KKR Financial Holdings Announces the Dismissal of Class Action Lawsuit

KKR Financial Holdings LLC KFN today announced that the United States District Court for the Southern District of New York dismissed the putative class action complaint filed by the Charter Township of Clinton Police and Fire Retirement. As the Company disclosed previously, plaintiffs in the Charter Litigation alleged the Company's April 2007 registration statement and prospectus and the financial statements incorporated therein contained material omissions in violation of the Securities Act regarding the risks and potential losses associated with the Company's real estate-related assets, the Company's ability to finance its real estate-related assets, and the adequacy of the Company's loss reserves for its real estate-related assets. By order issued November 17, 2010, the Court ruled that these claims were without merit and dismissed the Charter Litigation with prejudice. Plaintiffs have thirty days from the entry of the judgment to a file an appeal.