A class-action lawsuit was filed last week against Smith Barney and Salomon Brothers for alleged misleading of mutual fund investors.

The suit, filed in New York by Stull, Stull & Brody, also names Citigroup as a defendant. It alleges that between March 22, 1999 and March 22, 2004, the funds violated the 1934 Securities Exchange Act because they "engaged in an unlawful and deceitful course of conduct designed to improperly financially advantage defendants to the detriment of plaintiff and the other members of the Class."

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