(Source: MARKETWIRE)
The Securities Law Firm of Tramont Guerra & Nunez, PA (TGN) makes an announcement to all Citigroup (NYSE: C) Bond and Preferred Stock investors who are prospective class members of class action lawsuit (Master File Case No. 08 CV 09522). On May 7, 2009, Judge Sidney H. Stein issued an Order that consolidated the Preferred Stock Series AA and Series F class action lawsuits with the Bondholder class action lawsuit in the U.S. District Court for the Southern District of New York. The Underwriter Defendants who were named in the class action lawsuit include: Citigroup Global Markets, Inc. (NYSE: C), Morgan Stanley & Co, Inc. (NYSE: MS), UBS Securities, LLC (NYSE: UBS) and Banc of America Securities, LLC. (NYSE: BAC). Prospective class members should consider whether an individual securities arbitration claim filed with the Financial Industry Regulatory Authority (FINRA) is more effective than a class action for recovery of their investment losses.
Many investors were advised that Citigroup Bonds and Preferred Stock were suitable for current income investment objectives. In some instances, individuals maintained concentrated positions in the banking sector that exposed investors to unnecessary and uncompensated risk. 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 regulations. Recommendations of unsuitable investments and/or concentrated investments in the financial sector are both causes of action that form the basis for individual securities arbitration claims filed with FINRA. Securities arbitration claims arise from sales practice rule violations, as set forth by 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 unavailable.
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 to assist you in determining whether you have a viable individual claim for investment losses that exceed $100,000 from a full service brokerage account, contact us on stock market loss lawyer. 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-citigroup-bond-preferred.htm
Contact: David Chacin, Esquire 2100 Ponce De Leon Blvd, Penthouse II Coral Gables, Florida 33431 (800) 578-0137 Email Contact http://twitter.com/stocklawyers
SOURCE: Tramont Guerra & Nunez, P.A.
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