SOURCE: Tramont Guerra & Nunez

April 24, 2009 18:00 ET

Notice to All Barclays Bank PLC - Preferred Series 5 ADR Investors From the Securities Law Firm of Tramont Guerra & Nunez, PA

CORAL GABLES, FL--(Marketwire - April 24, 2009) - The Securities Law Firm of Tramont Guerra & Núñez, PA (TGN) makes an announcement to all Barclays Bank PLC ADR, Preferred Series 5 (NYSE: BCS-PD) shareholders who are prospective class members of class action lawsuit (Case No. 09 CV 3608) filed on April 8, 2009 in the U.S. District Court for the Southern District of New York. The Barclays Bank PLC (NYSE: BCS) and major Wall Street Underwriters were named parties to the class action lawsuit. The Underwriters of the securities issue who were named parties include; Citigroup Global Markets, Inc. (NYSE: C), UBS Securities, LLC (NYSE: UBS), Morgan Stanley & Co. Inc. (NYSE: MS), Banc of America Securities, LLC (NYSE: BAC) and Wells Fargo Securities, LLC (NYSE: WFC). The class action lawsuit alleges that the Registration Statement and Prospectus, "omitted important information about Barclays Bank's exposure to debt securities" and how this exposure could affect the Company's capital ratios which ultimately led to the stock's price decline. Prospective class members should consider whether an individual securities arbitration claim filed with the Financial Industry Regulatory Authority (FINRA) is more effective than a class action for recovery of their investment losses.

Many investors were advised by their financial advisors that an investment in Barclays Bank PLC ADR, Preferred Series 5 was suitable for current income investment objectives. Brokerage firms are obligated to give and investors are entitled to rely upon brokerage firms for, competent, suitable investment advice in accordance with the FINRA regulations. Recommendations of unsuitable investments and/or concentrated investments in the financial sector are both causes of action that form the basis for individual securities arbitration claims filed with FINRA. 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 to assist you in determining whether you have a viable individual claim 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:
    David Chacin, Esquire
    2100 Ponce De Leon Blvd, Penthouse II
    Coral Gables, Florida 33431
    (800) 578-0137

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