Press Releases

Securities Law Firm of Tramont Guerra Nunez, PA Comments on YRC Worldwide ERISA Class Action Lawsuit Filed on Behalf of Pension Plan Participants

Coral Gables, Florida (Vocus/PRWEB) January 7, 2011 - The Securities Law Firm of Tramont Guerra & Nunez, P.A. (TGN) comments on the YRC Worldwide ERISA class action lawsuit (Case No. 09 CV 02593) filed in the United States District Court for the District of Kansas. The class action lawsuit alleges violation of ERISA rules concerning duties owed to plan participants. The claims include imprudent investments in YRC Worldwide stock which was "an excessively risky investment for retirement assets in light of the Company's dire financial condition." According to the pleadings, plan participants received shares through matching contributions to their 401(k) retirement accounts. Former and current employees who owned YRC Worldwide stock during the decline should consider what recourse is available to recover their investment losses in stock held with full-service brokerage firms. The Financial Industry Regulatory Authority, (FINRA) is a self regulating organization with sales practice rules and regulations that govern the securities industr's conduct and safeguard the investing public. For investors who accumulated shares in YRC Worldwide, the recent developments represent a significant loss in income and investment.

According to TGN, many investors in YRC Worldwide stock represented a long term holding acquired through investment 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/or maintaining unprotected concentrated stock positions 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 individual 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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