SOURCE: Silverman Acampora LLP

June 20, 2008 15:20 ET

Silverman Acampora LLP and Bragar Wexler Eagel & Squire Filed a Class Action Lawsuit on Behalf of Investors of Citigroup's MAT Funds

NEW YORK, NY--(Marketwire - June 20, 2008) - Silverman Acampora LLP and Bragar Wexler Eagel & Squire have filed a class action lawsuit on behalf of investors of the Municipal Opportunity (MAT) fund seeking damages against Citigroup and its subsidiary entities including Citi Alternative Investments LLC for the substantial losses incurred in the investments. The lawsuit was filled in Supreme Court State of New York, New York County.

Clients of Silverman Acampora LLP, as investors in Citigroup's MAT funds, reported that they sustained heavy losses (between approximately forty-eight [48%] and eighty-five [85%] percent) in their investments. Citigroup, in marketing the funds, compared the funds to relatively safe, fixed-income investments. According to investors, Citigroup, its subsidiary entities, and each of their representatives also touted the investments as low risk and low volatility for guaranteed income, and stated that the investors' maximum loss of principal would range only between ten (10%) and fifteen (15%) percent.

Investors of Citigroup's MAT funds are urged to explore legal options with Silverman Acampora LLP. Ronald J. Friedman, Esq. said, "We would be pleased to confer with any other investors in the MAT funds. The class action lawsuits may help recover some of the substantial losses of the Citigroup fund investors."

About Silverman Acampora LLP

SA and its attorneys provide legal services to a diverse group of institutional and private clients including substantial commercial litigation on behalf of Court-appointed fiduciaries. Among its clients are bankruptcy trustee's, federal and state court receivers, foreign and domestic commercial and investment banks, financial service companies, professional service companies, lenders and investors, entrepreneurs, entertainment firms, real property owners and developers and professional organizations. SA also represents companies in the oil and gas, communications, fashion, luxury goods, transportation, entertainment and high technology industries.

For more information about Silverman Acampora LLP, and to speak with a company official, please contact Ronald J. Friedman, Esq. at 516.479.6300 or visit

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