CORAL GABLES, FL -- (Marketwire) -- 01/29/09 -- The Securities Law Firm of Tramont Guerra & Núñez, PA (TGN) makes an announcement concerning American International Group (NYSE: AIG) and major Wall Street firms which were named in a class action lawsuit (Case No. 08 CV 10586) filed in the Southern District of New York on December 4, 2008. The syndication of Wall Street underwriters that were named parties for their role in raising tens of billions of dollars from the investing public while generating hundreds of millions of dollars in fees included: Citigroup Global Markets (NYSE: C), Banc of America Securities (NYSE: BAC), Barclays Capital (NYSE: BCS), Wachovia Capital Markets (NYSE: WB), a successor in liability to AG Edwards, Credit Suisse Securities (USA) (NYSE: CS) and Deutsche Bank Securities (NYSE: DB). The class action filed on behalf of investors alleges that the Wall Street underwriters failed in their obligation to assure the accuracy of the information used in the three shelf registration statements used to solicit clients to invest funds in the company. The Offering materials failed to disclose the massive liability and exposure to Credit Default Swaps, a financial instrument used by investors to hedge exposure on collateralized debt obligations and other debt securities.

Prospective class members need to determine which legal process is more suitable for them to recover investment losses, a class action lawsuit or an individual securities arbitration claim filed with the Financial Industry Regulatory Authority, (FINRA). Many investors were advised by their financial advisors that an investment in American International Group was a suitable investment. Recommendations of unsuitable investments and/or concentrated investments in the financial sector, are both sales practice violations which form the basis of a securities arbitration claim filed with FINRA should an investor sustain damages (losses) as a result. In some cases, shareholders must "opt-out" as a class member in order to pursue a securities arbitration claim, otherwise this legal option is not available.

The Securities Law Firm of Tramont Guerra & Núñez, PA, is a nationally recognized, Martindale Hubbell "AV" rated law firm. To request a confidential consultation from a TGN attorney for investment losses that exceed $100,000 from a full service brokerage account, contact us on our website at http://www.stockmarketlosslawyer.com/current-investigations.htm. To speak directly with an attorney, call (800) 578-0137 and ask for David Chacin, Esquire.

Destination URL: http://www.stockmarketlosslawyer.com/press-releases/class-action-lawsuits-americanig.htm

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