The Securities Law Firm of Tramont, Guerra & Nunez, P.A. Announces Major Wall Street Firms Named in the American International G
21 10월 2008 - 9:00PM
Marketwired
The Securities Law Firm of Tramont, Guerra & Nunez, P.A. (TGN)
announces that major Wall Street firms were named in the American
International Group Junior Subordinated Debentures Series A5 class
action lawsuit (Case No. 08 CV 8659) filed October 9, 2008.
American International Group (NYSE: AIG) issued through a public
offering ("Offering") on December 11, 2007, a 7.70% Junior
Subordinated Debentures through a syndication of underwriters which
included: Citigroup Global Markets (NYSE: C), Merrill Lynch (NYSE:
MER), Morgan Stanley (NYSE: MS), UBS Securities, (NYSE: UBS),
Wachovia Capital Markets (NYSE: WB), Banc of America Securities
(NYSE: BAC), RBC Capital Markets (NYSE: RBC), Wells Fargo
Securities (NYSE: WFC) and Bear Stearns (not trading). The class
action filed on behalf of investors alleges that American
International Group, certain officers and directors, and the Wall
Street underwriters of the Offering made representations in the
Offering Prospectus that were "materially false and misleading,"
which class members relied upon to their detriment.
The Wall Street firms which were involved with the underwriting
of the public offerings are obligated to conduct due diligence of
facts concerning the risks associated with the investment.
Furthermore, investors are entitled to rely upon brokerage firms
for competent, suitable investment advice in accordance with the
Financial Industry Regulatory Authority (FINRA) Rules and
Regulations. The recommendation of unsuitable investments and
concentration in a particular security or sector are both sales
practice violations which qualify for damages from a security
arbitration claim filed with the Financial Industry Regulatory
Authority (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, P.A. is
a Martindale Hubbell "AV" Rated, bilingual law firm located in
Coral Gables, Florida. To request a confidential consultation from
a TGN attorney concerning losses that were the result of sales
practice violations in a full service brokerage account, contact us
on our website at
http://www.stockmarketlosslawyer.com/securities-concentration.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-aig.htm
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Contact: David Chacin, Esquire 2100 Ponce De Leon Blvd,
Penthouse II Coral Gables, Florida 33431 (800) 578-0137 Email
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