FORT LAUDERDALE, FL–(EMWNews – July 29, 2008) – The Law Office of David R. Chase, P.A.

(the “Firm”), headed by former Securities and Exchange Commission

Prosecutor and Special Assistant United States Attorney, David R. Chase,

announces that it is has filed two FINRA (Financial Industry Regulatory

Authority) arbitration claims on behalf of auction rate securities

investors.

The first arbitration claim names UBS Financial Services, Inc. and Banc of

America Investment Services, Inc. in connection with their offer and sale

of student-loan auction rate securities. The second arbitration claim

names Merrill Lynch Pierce Fenner & Smith, Inc. in connection with its

offer and sale of auction rate preferred securities (“ARPS”). Both claims

allege that the broker-dealers materially misrepresented, and failed to

disclose, critical facts concerning the safety and liquidity of the auction

rate securities sold. The claims allege: breach of fiduciary duty,

negligence, fraud, breach of contract and negligent supervision and seek,

among other remedies, rescission, compensatory and punitive damages.

Investors who purchased auction rate securities should seriously consider

pursuing their own individual arbitration claims as a potentially superior

alternative to joining a class action. Unlike a class action, an

arbitration claim allows you to: (1) chose your own counsel (only the lead

plaintiff has this right in a class action), (2) have your unique facts

presented to an arbitration panel, (3) control the decision whether to

settle your case and for how much, and (4) generally secure a result within

approximately twelve months, as opposed to potentially years with a class

action.

The Law Office of David R. Chase, P.A., based in Fort Lauderdale, Florida,

has extensive experience representing defrauded investors nationwide in

securities litigation matters. The Firm handles all claims involving

securities fraud, including stocks, options, auction rate securities, hedge

funds, mutual funds, promissory note schemes and collateralized mortgage

obligations (CMOs). The Firm’s principal, David R. Chase, is AV-Rated by

Martindale-Hubbell. More about the firm is available on its website at:

www.davidchaselaw.com.