Press Releases
Notice to Merrill Lynch Customers Who Purchased Fannie Mae Preferred Stock from the Securities Law Firm of Tramont Guerra & Nuņez, PA
Coral Gables, Florida October 30, 2008 – The Securities Law Firm of Tramont Guerra & Núñez, PA (TGN) makes an announcement to Merrill Lynch Customers who invested in Fannie Mae Preferred Stock - Series S (NYSE:FNM-PS) and Fannie Mae Preferred Stock – Series T (NYSE:FNM-PT) issued by Fannie Mae (NYSE:FNM). The Fannie Mae Preferred Stock “Series S” class action lawsuit (Case No. 08 CV 8609) filed October 8, 2008 and the Fannie Mae Preferred Stock “Series T” class action lawsuit (Case No. 08 CV 08008) filed September 17, 2008, both named Merrill Lynch (NYSE:MER) for their involvement as a lead underwriter of the Preferred stock offerings. The aforementioned class actions allege that, as an underwriter of these public offerings, Merrill Lynch participated in the review and drafting of the Offering Circular which is considered by regulators as the official sales document used for the solicitation of investors. With the unique knowledge of the business conditions faced by Fannie Mae, Merrill Lynch, nonetheless solicited the purchase of the Non-Cumulative Preferred stock to their clients as a safe, stable investment with an 8.25% coupon.
Investors are urged to review their legal options as members of the above mentioned class action lawsuits. In particular, investors should seek legal advice concerning the merits of an individual securities arbitration claim. The Financial Industry Regulatory Authority (FINRA) has established rules and regulations to protect investors from sales practice violations. Such violations include the recommendation of unsuitable investments and concentration in a particular security or sector, which may qualify for damages from an individual securities arbitration claim filed with FINRA. In some cases, shareholders must take action and “opt-out” as a class member in order to pursue a securities arbitration claim, otherwise investors may be precluded from this legal option.
The Securities Law Firm of Tramont Guerra & Núñez, PA 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.
Contact:
David Chacin, Esquire
2100 Ponce De Leon Blvd, Penthouse II
Coral Gables, Florida 33431
(800) 578-0137
dec@rtgn-law.com
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