Message #125 From:
Stock News Bot Date: October 9, 2008 11:00:24 AM
MS stock: Notice to Lehman Brothers Preferred Stock Shareholders Underwritten Through Wall Street Firms From the Law Firm of Tramont Guerra Núñez, PA
CORAL GABLES, FL -- (Marketwire) -- 10/09/08 -- The Securities Law Firm of Tramont Guerra
& Núñez, PA (TGN) makes an announcement to Lehman Brothers Preferred Stock,
Series J, Shareholders (PINKSHEETS: LEHJQ) issued by Lehman Brothers
Holdings, Inc. (PINKSHEETS: LEHMQ). The Lehman Brothers Preferred Stock
"Series J" class action lawsuit (Case No. 08 CV 08225) filed September 24,
2008, included amongst the named parties the following Wall Street
underwriters of the stock issue; Bank of America Securities (NYSE: BAC),
Merrill Lynch (NYSE: MER), Citigroup Global Markets (NYSE: C), Morgan
Stanley (NYSE: MS stock), UBS Securities, (NYSE: UBS), Wachovia Capital Markets
(NYSE: WB). The six named underwriters were the lead managers of the stock
offering with responsibilities to review the Circular Offering distributed
to investors.
The class action lawsuit alleges that the statements made in the Offering
Circular by the underwriting syndication were materially false and
misleading. Many investors were advised by their financial advisors that
the Lehman Brothers Preferred Stock, Series J was a suitable investment for
risk adverse investors. Brokerage firms are obligated to give and
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. Sales practice
violations by financial advisors, such as the recommendation of unsuitable
investments and concentration in a particular security or sector, are both
violations which may qualify an investor for an individual arbitration
claim with FINRA. In some cases, shareholders must "opt-out" as a class
member in order to pursue a securities arbitration claim filed with FINRA.
The Securities Law Firm of Tramont Guerra & Núñez, PA, is a 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
Tramont Guerra Núñez, PA
(800) 578-0137 Email Contact
