Suit Targets Calamos Over Auction Rate Securities

Law360, New York (April 22, 2008, 12:00 AM EDT) -- Becoming the latest company to face legal troubles over auction rate securities, a closed-end fund of Calamos Holdings LLC has been hit with a proposed class action by investors who claim they were misled in connection with the company's September 2007 offering.

The lawsuit, filed Monday in the U.S. District Court for the Southern District of New York, accuses Calamos Fund, a closed-end management investment company, of issuing a false and misleading registration statement and prospectus related to the offering.

The named plaintiff, Sheldon Miller, is...
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