(Source: MARKET WIRE)
The Securities Law Firm of Tramont Guerra & Nunez, PA (TGN) makes an announcement to all Barclays Bank PLC ADR, Preferred Series 4 (NYSE: BCS-PC) shareholders who are prospective class members of class action lawsuit (Case No. 09 CV 02326) filed on March 13, 2009 in the U.S. District Court for the Southern District of New York. The Barclays Bank PLC (NYSE: BCS) and major Wall Street Underwriters were named parties to the class action lawsuit. The Underwriters of the securities issue who were named parties include: Citigroup Global Markets, Inc. (NYSE: C), Morgan Stanley & Co. Inc. (NYSE: MS), UBS Securities, LLC (NYSE: UBS), Goldman Sachs (NYSE: GS) and Wells Fargo Securities, LLC (NYSE: WFC). The class action lawsuit alleges that the Underwriter Defendants "collected fees" for their involvement in the drafting and dissemination of the Registration Statement and Prospectus, the "Offering" documents. Furthermore, the Underwriter Defendants failed to "conduct an adequate due diligence investigation" concerning facts related to Preferred stock issuance. 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 Barclays Bank PLC ADR, Preferred Series 4 was suitable for current income investment objectives. Brokerage firms are obligated to give and investors are entitled to rely upon brokerage firms for, competent, suitable investment advice in accordance with the FINRA. Recommendations of unsuitable investments and/or concentrated investments in the financial sector are both causes of action in a securities arbitration claim filed with FINRA. 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 & Nunez, PA, is a nationally recognized, Martindale Hubbell "AV" rated securities 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. 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-barclays4.htm
Contact: David Chacin, Esquire 2100 Ponce De Leon Blvd, Penthouse II Coral Gables, Florida 33431 (800) 578-0137 Email Contact
SOURCE: Tramont, Guerra & Nunez, P.A.
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