SOURCE: Tramont, Guerra & Nunez, PA

November 13, 2008 08:00 ET

Notice to All Thornburg Mortgage, Inc. Preferred Shareholders From the Securities Law Firm of Tramont Guerra & Nunez, PA

CORAL GABLES, FL--(Marketwire - November 13, 2008) - The Securities Law Firm of Tramont Guerra & Núñez, PA (TGN) makes an announcement to all investors in the Thornburg Mortgage Preferred Series C (NYSE: TMA-PC), Thornburg Mortgage Preferred Series D (NYSE: TMA-PD), Thornburg Mortgage Preferred Series E (NYSE: TMA-PE) and Thornburg Mortgage Preferred Series F (NYSE: TMA-PF) shareholders concerning the class action lawsuit filed October 28, 2008 in the United States District Court for the District of New Mexico. The parties named in the class action lawsuit included Thornburg Mortgage, Inc. (NYSE: TMA), the company's Board of Directors and other related parties for their involvement in the "coercive tender offer aimed at eliminating the Company's preferred shareholders, simultaneously diluting and devaluing the common shares held by public shareholders." The class action lawsuit alleges that the "PR campaign to coerce shareholders into tendering their shares was a false and misleading definitive proxy statement" which was filed with the SEC and disseminated to shareholders on July 23, 2008.

Many investors were advised by their financial advisors that the Thornburg Mortgage Preferred stock was a safe and stable investment suitable for risk adverse investors. Brokerage firms are required to provide advice based on the "know your customer" rule to determine the suitability of investment recommendations, as set forth by the Financial Industry Regulatory Authority (FINRA). The recommendation of unsuitable investments and concentration in a particular security or sector, are both violations which may qualify an investor for an individual arbitration claim with FINRA. In some cases, shareholders must "opt-out" as a class member in order to pursue an individual securities arbitration claim.

The Securities Law Firm of Tramont Guerra & Núñez, PA is a nationally recognized, Martindale Hubbell "AV" rated 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 at http://www.stockmarketlosslawyer.com/securities-concentration.htm. To speak directly with an attorney, call (800) 578-0137 and ask for David Chacin, Esquire.

Destination URL: http://www.stockmarketlosslawyer.com/press-releases/class-action-lawsuits-thornburg.htm

Contact Information

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