SOURCE: Duke, Holzman, Photiadis & Gresens LLP

October 22, 2010 17:41 ET

Investor Notice: The Law Firm of Duke, Holzman, Photiadis and Gresens LLP Announces the Filing of a Securities Class Action Lawsuit Against Timothy Geidel, Eve Geidel, Georgetown Capital Group, Inc., and Royal Alliance Associates, Inc.

BUFFALO, NY--(Marketwire - October 22, 2010) -  Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Western District of New York, Case No. 10-CV-793A(F), on behalf of all persons who purchased and/or invested in certificates of deposit ("CDs") and/or other securities through Timothy Geidel, who was an investment advisor at Georgetown Capital Group, Inc. and a registered representative with Royal Alliance from November 1989 through and including August 2010. The Hon. Richard J. Arcara is presiding over the case. The class period is believed to run from November 1989 through and including October 2010.

The Complaint alleges that Timothy Geidel violated federal securities laws and New York State law by engaging in a Ponzi scheme and offering bogus CDs, investments, and other securities that he claimed were available specially through Georgetown Capital Group and Royal Alliance. The Complaint also alleges that Georgetown Capital failed to properly supervise Timothy Geidel and is a control person under federal securities law, and that Royal Alliance failed to properly supervise Timothy Geidel, failed to properly supervise its satellite offices, and is a control person under federal securities law.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE.

If you wish to act as lead plaintiff in this action, you must move the Court no later than December 22, 2010. A lead plaintiff is a representative party that acts on behalf of other class members in the litigation. The Court determines who acts as lead plaintiff. Your ability to share in any recovery is not impacted or changed by choosing to act or not act as lead plaintiff.

If you wish to discuss this action or have any questions concerning this notice or the pending lawsuit, please contact Charles Ritter, Esq. at Duke, Holzman, Photiadis and Gresens, LLP by calling 716.855.1111 or by writing to 1800 Main Place Tower, 350 Main Street, Buffalo, New York.

Contact Information

  • Contact:
    Charles Ritter, Esq.
    Duke, Holzman, Photiadis and Gresens, LLP
    1800 Main Place Tower
    350 Main Street
    Buffalo, New York
    716.855.1111