Business NewsLegal Notices

Notice to All Citigroup Investors Who Purchased Auction Rate Securities: Public Arbitration Process to Resolve Claims of Consequential Damages Available

2008-08-07 12:13:00

    NEW YORK, Aug. 7 /EMWNews/ -- The Securities Law Firm of Klayman &

Toskes, P.A. ( ) announced today that New York's

Attorney General Andrew Cuomo reached a "landmark, multi-billion dollar

agreement with Citigroup Global Markets, Inc. (NYSE: C) and Citi Smith

Barney (collectively, "Citigroup") to settle allegations that Citigroup was

making material misrepresentations in its marketing and sales of auction

rate securities." As part of the settlement, Citigroup agreed to "consent

to a special, public arbitration process to resolve claims of consequential

damages suffered by retail investors as a result of not being able to

access their funds." Accordingly, Klayman & Toskes will be representing

investors in arbitration proceedings against Citigroup in order to assist

them in recovering consequential damages incurred as a result of purchasing

auction rate securities from Citigroup.

    While a settlement has been reached between Attorney General Cuomo's

office and Citigroup, a class action lawsuit against the brokerage firm,

case number 1:08-cv-03095, is still pending in the United States District

Court for the Southern District of New York. Further, Klayman & Toskes will

continue to file arbitration claims with the Financial Industry Regulatory

Authority ("FINRA"), against major Wall Street brokerage firms, including

Citigroup, for unsuitable recommendations and consequential damages. Since

the auction rate securities crisis began in February of 2008, Klayman &

Toskes has filed numerous claims on behalf of investors who no longer have

access to money frozen in auction rate securities.

    The attorneys at the Law Firm of Klayman & Toskes are dedicated to

aggressively pursuing claims on behalf of investors who purchased auction

rate securities from Citigroup. Klayman & Toskes, an experienced, qualified

and nationally recognized securities litigation law firm, practices

exclusively in the field of securities arbitration and litigation. It

continues its representation of investors throughout the world in

securities arbitration and litigation matters against major Wall Street

brokerage firms. If you wish to discuss this announcement or have

information relevant to our claims, please contact Steven D. Toskes,

Esquire or Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at

888-997-9956, or visit us on the web at .

    NYSE: C

Major Newsire & Press Release Distribution with Basic Starting at only $19 and Complete OTCBB / Financial Distribution only $89

Get Unlimited Organic Website Traffic to your Website now offers Organic Lead Generation & Traffic Solutions

Jordan Taylor

Jordan Taylor is Sr. Editor & writer from San Diego, CA. With over 20 years and 2650+ articles edited rest assured your Press Release will see traction.

Related Articles

Back to top button