Rather than liquidating the futures contracts or selling the notes, Pimco held both to the brink of maturity in order to create an artificial scarcity, causing losses for investors who had to buy June 2005 contracts at inflated prices to cover their “short” positions, according to the original complaint.

I don't really get this. Isn't it their right to hold both to maturity? Nobody put a gun to the shorts' heads and told them to put. Too bad, so sad. Sometimes you bet wrong.

It's a whiny-baby trader's class action, IMHO.