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

February 27, 2009 16:06 ET

Securities Law Firm of Tramont Guerra & Nunez, PA Makes Announcement to All Royal Bank of Scotland Group, PLC - Preferred Series R Investors

CORAL GABLES, FL--(Marketwire - February 27, 2009) - The Securities Law Firm of Tramont Guerra & Núñez, PA (TGN) makes an announcement to all Royal Bank of Scotland Group PLC (RBS), 6.125% Series R, Non-cumulative Dollar Preference (NYSE: RBS-PR) shareholders who are prospective class members of a class action lawsuit filed in the United States District Court for the Southern District of New York on February 20, 2009. The Royal Bank of Scotland Group PLC, (NYSE: RBS) and major Wall Street firms were named parties to the class action lawsuit. The Co-managers of the securities underwriting, who were named parties included; Citigroup Global Markets (NYSE: C), Morgan Stanley & Co. (NYSE: MS), UBS Securities, LLC (NYSE: UBS) and Wachovia Capital Markets, LLC. The class action lawsuit alleges that RBS and the major Wall Street firms who were underwriters of the Preferred stock offering solicited investors by means of a prospectus which contained "material misstatements and omissions." At the time the prospectus was issued, RBS was suffering from adverse business conditions 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 the Financial Industry Regulatory Authority, (FINRA).

Many investors were advised by their financial advisors that an investment in Royal Bank of Scotland Preferred stock was suitable for risk adverse investors. 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 at http://www.stockmarketlosslawyer.com/current-investigations.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-rbsr.htm

Contact Information

  • Contact:
    David Chacin, Esquire
    2100 Ponce De Leon Blvd, Penthouse II
    Coral Gables, Florida 33431
    (800) 578-0137
    Email Contact