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Article: Legg Mason Provides Money Market Fund Update.

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PR Newswire
Article date:
March 31, 2008
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BALTIMORE, March 31 /PRNewswire-FirstCall/ -- Legg Mason, Inc. announced that the Company has entered into capital support agreements (CSAs) to provide support to a money market fund managed by a subsidiary of the Company. Neither the fund, nor its shareholders incurred a loss in this transaction. Legg Mason also provided today an update regarding the anticipated earnings impact of these actions for the quarter ended March 31, 2008 as well as an update to accruals related to previously announced money market fund support.

"Legg Mason is putting the CSAs in place to provide support at a time when certain segments of the marketplace continue to experience asset ...

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