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Article: Legg Mason Provides Money Market Fund Update.

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PR Newswire
Article date:
June 30, 2008
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BALTIMORE, June 30 /PRNewswire-FirstCall/ -- Legg Mason, Inc. announced that the Company has entered into capital support agreements (CSAs) to support three money market funds managed by a subsidiary of the Company. Neither the funds nor their shareholders incurred a loss in these transactions. Legg Mason also provided today an update regarding the anticipated earnings impact of these actions for the quarter ended June 30, 2008, as well as an update to accruals for the quarter related to previous money market fund support.

Under the CSAs, the Company will make up to an aggregate of $240 million in capital contributions to the funds if any of the funds realize ...

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