6.8.2008 The SEC charged Boston-based Evergreen Investment Management Company LLC and an affiliate with securities law violations for overstating the value of a mutual fund—Ultra Short Opportunities Fund—and only selectively telling shareholders about the fund’s valuation problems. The SEC alleged that the Fund was consistently ranked as a high performer in its class in 2007 and 2008 but was inflated by as much as 17% due to Evergreen’s improper valuation practices. Evergreen agreed to pay more than $40 million to settle the SEC’s charges without admitting or denying the findings in the SEC’s order.

Click http://www.sec.gov/litigation/admin/2009/34-60059.pdf to access the SEC administrative action.