SOURCE: Tramont, Guerra and Nunez, P. A.

March 06, 2009 08:00 ET

Notice to All American International Group Medium Term Notes, Series AIG-FP Investors From the Securities Law Firm of Tramont Guerra & Nunez, PA

CORAL GABLES, FL--(Marketwire - March 6, 2009) - The Securities Law Firm of Tramont Guerra & Núñez, PA (TGN) makes an announcement to all American International Group Medium Term Notes, Series AIG-FP investors issued by American International Group (NYSE: AIG), who are prospective members of class action lawsuit (Case No. 09 CV 00428) filed in the United States District Court for the Southern District of New York on January 15, 2009. American International Group (AIG) and major Wall Street firms were named parties to the class action lawsuit. The major Wall Street firms involved in the securities underwriting syndicate who were named parties included: Banc of America Securities, LLC (NYSE: BAC), Citigroup Global Markets (NYSE: C), UBS Securities, LLC (NYSE: UBS), Barclays Capital, Inc. (NYSE: BCS), Credit Suisse Securities (USA) (NYSE: CS) and Morgan Stanley & Co. (NYSE: MS). The class action lawsuit further alleges that AIG and the underwriting syndicate had "access to material non-public information" that represented adverse facts which were not disclosed. Prospective class members need to determine which legal process is more suitable for them to recover investment losses, a class action lawsuit or an individual securities arbitration claim filed with FINRA.

The Wall Street firms which were involved with the underwriting of the public offerings are obligated to conduct due diligence of facts concerning the risks associated with the investment. Many investors were advised by their financial advisors that an investment in AIG Medium Term Notes were suitable for current income investment objectives. Recommendations of unsuitable investments and/or concentrated investments in the financial sector are both sales practice violations which form the basis of a securities arbitration claim filed with FINRA should an investor sustain damages (losses) as a result. In some cases, shareholders must "opt-out" as a class member in order to pursue a securities arbitration claim, otherwise this legal option is not available.

The Securities Law Firm of Tramont Guerra & Núñez, PA, is a nationally recognized, Martindale Hubbell "AV" rated securities law firm. To request a confidential consultation from a TGN attorney for investment losses that exceed $100,000 from a full service brokerage account, contact us on our website. To speak directly with an attorney, call (800) 578-0137 and ask for David Chacin, Esquire.

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Contact Information

  • Contact:
    David Chacin, Esquire
    Tramont Guerra Núñez, PA
    (800) 578-0137
    Email Contact