Coughlin Stoia Geller Rudman & Robbins LLP Files Class Action Suit Against DWS RREEF Real Estate Fund, Inc.

SAN DIEGO--(BUSINESS WIRE)--Coughlin Stoia Geller Rudman & Robbins LLP (“Coughlin Stoia”) (http://www.csgrr.com/cases/dwsrreef/) today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of the common shares of DWS RREEF Real Estate Fund, Inc. (“DWS RREEF I”) or DWS RREEF Real Estate Fund II, Inc. (“DWS RREEF II”) (collectively, the “Funds”) (NYSE:SRQ; NYSE:SRO) between March 8, 2007 and November 7, 2008 (the “Class Period”).

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from August 24, 2009. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Darren Robbins of Coughlin Stoia at 800/449-4900 or 619/231-1058, or via e-mail at djr@csgrr.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.csgrr.com/cases/dwsrreef/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges DWS RREEF I and DWS RREEF II and certain of its officers and directors with violations of the Securities Exchange Act of 1934. DWS RREEF I and DWS RREEF II are closed-end, non-diversified, management investment companies.

The complaint alleges that during the Class Period, the Funds issued reports that misrepresented the Funds’ investments, leverage and exposure to the auction rate preferred securities (“ARPS”) market. Due to defendants’ false and misleading statements, investors purchased the common stock of the Funds during the Class Period at artificially inflated prices and were damaged thereby.

Subsequently, as a result of disclosures which caused investors to realize that distributions would cease, the Funds’ prices dropped. The price per share of DWS RREEF I dropped from $3.45 per share on November 14, 2008 to $2.65 on November 18, 2008, and the price per share of DWS RREEF II dropped from $1.90 per share on November 14, 2008 to $1.42 per share on November 18, 2008.

The Funds have never recovered and DWS RREEF I trades at less than $2 per share and DWS RREEF II trades at less than $0.60 per share.

Plaintiff seeks to recover damages on behalf of all purchasers of common shares of either of the Funds during the Class Period (the “Class”). The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Coughlin Stoia Web site (http://www.csgrr.com) has more information about the firm.

Coughlin Stoia Geller Rudman & Robbins LLP
Darren Robbins, 800-449-4900 or 619-231-1058
djr@csgrr.com