CORAL SPRINGS, Fla., July 11, 2006 (PRIMEZONE) -- The Securities Law Firm, Blum & Silver, LLP (http://www.stockattorneys.com), announced today that it has filed an arbitration before the National Association of Securities Dealers, Inc. ("NASD"), Case No. 2006-02464 on behalf of a former JLS customer for an unsuitable trading strategy regarding bonds and specifically, inverse floater traunches of CMO's which resulted in large losses. The claim seeks compensatory damages directly related to the unsuitable use of leverage and misconduct through the firm's proprietary trading activity in the CMO's through Samco Financial Services, a division of Penson Financial Services, Inc. now known as Penson Worldwide, Inc. (Nasdaq:PNSN).
The sole purpose of this release is to investigate, on behalf of our client, potential sales practice violations by Mr. Solow or his company JLS. Blum & Silver, LLP is pursuing arbitration suits before the NYSE and the NASD for securities violations including failure to supervise, negligence, unsuitability claims, misrepresentation and material omissions of fact and trading activities of low-priced securities. We would greatly appreciate any information from other investors concerning the method or process used by the brokerage firm with regard to clients' trading activity and the handling of their accounts.
The Law Offices of Blum & Silver, LLP is a nationally-recognized securities law firm headquartered in Coral Springs, Florida. The primary focus of the firm is representing investors worldwide with their claims for losses due to stockbroker misconduct and brokerage firm negligence in securities litigation and arbitration matters. The firm is the lead counsel in numerous securities arbitration cases against many brokerage firms. If you wish to discuss this announcement or have information relevant to our securities arbitration claims, please contact Darren C. Blum, Esq. of Blum & Silver, LLP, at 1-877-STOCK LAW (1-877-786-2552) or visit us on the web at http://www.stockattorneys.com.
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