Press Releases

Notice to All Wilmington Trust Corp Investors from the Securities Law Firm of Tramont Guerra & Nunez, PA

Coral Gables, FL (Vocus) November 24, 2010 - The Securities Law Firm of Tramont Guerra & Nunez, PA (TGN) makes an announcement to all investors in Wilmington Trust who are prospective class members of class action lawsuit (Case No. 10 CV 00990) filed on November 19, 2010 in the U.S. District Court for the District of Delaware. The class action lawsuit alleges that, As a result of these materially false and misleading statements and failures to disclose, Wilmington common stock traded at artificially inflated prices during the Class Period. On November 1, 2010, Wilmington Trust reported in a SEC 8-K filing a $365.3 million loss for the third quarter. The loss included a $281.5 million write down as a loan loss provision for non-performing loans. The Wilmington Trusts Board of Directors determined in the report that a merger with M&T Bank at a value of $3.84 per common share was in the best interest of shareholders. This class action lawsuit was filed as a result of losses sustained by shareholders during the class period. The class period is from October 23, 2009 to November 1, 2010. TGN urges investors in Wilmington Trust stock to consider what recourse is available to recover their investment losses in stock held in full-service brokerage accounts. TGN informs investors that a FINRA securities arbitration claim would consider losses for a longer period than the class period of the class action lawsuit. The Financial Industry Regulatory Authority, (FINRA) is a self regulating organization with sales practice rules and regulations that govern the securities industry's conduct and safeguard the investing public.

According to TGN, many investors in Wilmington Trust stock represented a long term holding acquired through investment, inheritance or as an employee of the company. Full-service brokerage firms are obligated to give, and investors are entitled to rely upon, brokerage firms for competent, suitable investment advice concerning risk management strategies for concentrated stock positions. Brokerage firms are required to supervise the activities in brokerage accounts, losses may be attributed to the failure to adequately supervise the stockbroker and the brokerage account. Recommendations of unsuitable investments and maintaining a concentrated position in the banking and financial sector are both causes of action that may be available to investors against their full-service brokerage firm in an individual securities arbitration claim filed with FINRA.

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 determine whether you have a viable securities arbitration claim for investment losses that exceed $250,000 from a full service brokerage account, contact us on our website. To speak directly with an attorney, call (800) 578-0137 and ask for Ben Fernandez, Esquire.

Contact:
Ben Fernandez, Esquire
255 Alhambra Circle, Suite 1150
Coral Gables, Florida 33134
(800) 578-0137

ben@rtgn-law.com
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