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Girard Gibbs LLP Announces Class Action Lawsuit Filed on Behalf of Medical Capital Investors
Monday, September 21, 2009 2:51 PM


(Source: Business Wire)trackingThe law firm of Girard Gibbs LLP (http://www.girardgibbs.com/medicalcapital.asp) announces that it is has filed a class action lawsuit on behalf of all persons or entities who purchased notes issued by Medical Provider Financial Corp. III, Medical Provider Financial Corp. IV, Medical Provider Funding Corp. V and/or Medical Provider Funding Corp. VI (the "Medical Capital Notes") on or after September 18, 2006.

The class action, captioned McCoy et al. v. Cullum & Burks Securities, Inc. et al., 09-cv-1084 (AG), is pending in the United States District Court for the Central District of California. The class action is brought against Cullum & Burks Securities, Inc., Securities America, Inc., Ameriprise Financial, Inc., and CapWest Securities, Inc., who offered and sold the Medical Capital Notes to investors.

The lawsuit asserts claims under Sections 12(a)(1), 12(a)(2) and 15 of the Securities Act of 1933. The Complaint alleges that the Medical Capital Notes should have been registered with the SEC, but were not, and that the private placement memoranda for the Medical Capital Note offerings misrepresented and omitted material facts related to terms of the offerings, the use of the investors' funds, the track record of various Medical Capital entities, the backgrounds and qualifications of the executives responsible for running the companies, and the overall risks of an investment in the Medical Capital Notes. According to the Complaint, the defendants violated federal securities laws by offering and selling the unregistered Medical Capital Notes pursuant to materially false and misleading prospectuses.

If you purchased or otherwise acquired Medical Capital Notes from Cullum & Burks, Securities America, Ameriprise Financial and/or CapWest Securities on or after September 18, 2006 you may, no later than November 20, 2009, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your ability to share in any recovery is not affected by the decision whether or not to serve as a lead plaintiff. You may retain Girard Gibbs LLP, or other attorneys, to serve as your counsel in this action.

If you purchased Medical Capital Notes from any of the defendants or from any other brokerage firm and wish to discuss your rights, please contact Girard Gibbs LLP toll-free at (866) 981-4800. A copy of the complaint is available from the Court, or can be viewed on Girard Gibbs LLP's website at: http://www.girardgibbs.com/medicalcapital.asp

Girard Gibbs LLP is one of the nation's leading firms representing individual and institutional investors in securities fraud class actions and litigation to correct abusive corporate governance practices, breaches of fiduciary duty and proxy violations. For more information, please access the firm's web site, www.girardgibbs.com/medicalcapital.asp. To discuss this class action with us, please contact the following attorneys:

Daniel C. Girard (dcg@girardgibbs.com)

Jonathan K. Levine (jkl@girardgibbs.com)

Rebecca A. Netter (ran@girardgibbs.com)

601 California Street, 14th Floor

San Francisco, CA 94108

Phone number: (866) 981-4800

Website: http://www.girardgibbs.com/medicalcapital.asp

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