SOURCE: Klayman & Toskes, P.A.

June 10, 2010 12:14 ET

Notice From the Securities Law Firm of Klayman & Toskes to Investors of Citigroup's ASTA and MAT Funds

NEW YORK, NY--(Marketwire - June 10, 2010) -  The Securities Law Firm of Klayman & Toskes, www.nasd-law.com, announced today that it is continuing to pursue securities arbitration claims against Citigroup Global Markets, Inc. (NYSE: C) with the Financial Industry Regulatory Authority's ("FINRA") Office of Dispute Resolution, on behalf of investors who sustained losses in Citigroup's ASTA and MAT Funds. Following the launch of the ASTA and MAT Funds, Citigroup solicited several of its high net worth customers, many of whom were retirees, to invest in the Funds. Within its sales pitch, Citigroup represented the Funds to be fixed income products that could provide higher yields, and that the Funds were "safe" and "secure" investments, not subject to a significant amount of volatility.

According to one claim filed against Citigroup, "[o]ne type of investment Citigroup promoted to its investors was municipal bond opportunities involving the arbitrage of tax-exempt and taxable bonds. These were actually very risky investments which could drop precipitously if the markets changed, or if the investments were not properly managed." In connection with the marketing of the Funds, Citigroup provided their clients with presentation materials concerning these products. However, the presentation materials are alleged to be "false and misleading in that the strategy to be employed would not protect investors as suggested by the ratings of the underlying investments." Further, it is believed that Citigroup failed to implement risk management strategies to prevent the Funds' management from investing the Funds' assets in risky and speculative investments.

The attorneys at the Law Firm of Klayman & Toskes are dedicated to aggressively pursuing claims on behalf of investors who have suffered losses in Citigroup's ASTA and MAT Funds, as well as investment products sold by Wall Street. 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 invested in Citigroup's ASTA or MAT Funds and you wish to discuss your legal options at no obligation, 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 http://www.nasd-law.com.

Contact Information