On December 22, 2008, Wolf Haldenstein Adler Freeman & Herz LLP filed a class action lawsuit in the United States District Court, Southern District of New York, against defendants Tremont Group Holdings Inc. ('Tremont'), Oppenheimer Acquisition Corporation ('Oppenheimer'), Massachusetts Mutual Life Insurance Co. ('Mass Mutual'), and Ernst & Young LLP ('Ernst & Young'), on behalf of all persons, other than defendants, who invested in the American Masters Broad Market Prime Fund (the 'Fund') from January 1, 2003 until the present (the 'Class Period'), and derivatively on behalf of Nominal Defendant American Masters Broad Market Prime Fund, L.P., to recover damages caused by defendants' violations of the federal securities laws and common law and breaches of their fiduciary duties.

The case name is styled Finkelstein v. Tremont Group Holdings Inc., et al. 08-civ-11141.

A copy of the complaint filed in this action is available from the Court, or can be viewed by clicking on the complaint link to the right.

The Complaint asserts that during the Class Period, unbeknownst to investors, defendant Tremont, general partner of the Fund, concentrated over half of its investment capital with entities that participated in the massive, fraudulent scheme perpetrated by Bernard Madoff ('Madoff'). Investors who entrusted their savings to Tremont have suffered millions in damages and are faced with financial ruin.

This Complaint alleges that Defendants failed to perform the necessary due diligence that they were being compensated to perform as investment managers and fiduciaries. Defendants either knew or should have known that the Fund's assets were employed as part of a massive Ponzi scheme and took no steps in a good faith effort to prevent or remedy that situation, proximately causing billions of dollars of losses and possible complete collapse of the Fund.

Additionally, Defendants issued an Offering Memorandum that was false and misleading because it omitted to state that Tremont had, with no or inadequate due diligence or oversight, abdicated its responsibility and entrusted Fund assets to Madoff- run investment vehicles. Oppenheimer and Mass Mutual are named defendants as controlling persons of the Fund, and Ernst and Young is a named defendant as the Fund's auditor.

Additional cases were filed. On February 20, 2009, motions were made to consolidate the various cases and appoint lead plaintiff and counsel. The Court has not yet ruled on these motion.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has approximately 70 attorneys in various practice areas; and offices in Chicago, New York City, San Diego, and West Palm Beach. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation. Please visit the Wolf Haldenstein website (http://www.whafh.com) for more information about the firm.

If you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Gregory Mark Nespole
Demet Basar
Gustavo Bruckner
Derek Behnke
Wolf Haldenstein Adler Freeman
& Herz LLP
270 Madison Avenue
New York, New York 10016
Phone Number: (800) 575-0735
(212) 545-4600

Email: Nespole@whafh.com
Basar@whafh.com
Bruckner@whafh.com
Classmember@whafh.com

Website: http://www.whafh.com