CHICAGO, July 29, 2009 (GLOBE NEWSWIRE) -- The Law Offices of Howard Prossnitz (www.prossnitzlaw.com) corrects its June 8, 2009 press release concerning the deadline for filing a motion to serve as lead plaintiff in the class action that was commenced in the United States District Court for the Middle District of Florida on behalf of purchasers of variable annuities offered by JML Portfolio Management, LTD ("JML") and issued by Capital Leben, now known as Swiss Life Holding AG ("Swiss Life") which was invested with Nomura Holding, Inc.'s ("Nomura") All Weather Fund. The deadline for filing a motion to serve as lead plaintiff is 60 days from June 8, 2009 or August 7, 2009, not 60 days from May 29, 2009. The Nomura All Weather Fund was heavily invested with Bernard Madoff Investment Securities LLC ("Madoff"). This class action is being brought on behalf of all victims who were sold Swiss Life variable annuities through JML from January 3, 2006 to December 10, 2008.
If you wish to discuss this action or have any questions concerning this notice or your rights or interest, please contact plaintiff's counsel, Howard Prossnitz of the Law Offices of Howard Prossnitz, at (312)-960-1800 or via e-mail at howard@prossnitzlaw.com. If you are a member of this class you can view a copy of the complaint at www.prossnitzlaw.com. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges the Defendants violated various federal securities laws, and also alleges breach of fiduciary duty, gross negligence, unjust enrichment, and violation of the Florida state securities law. Plaintiffs allege that JML, Swiss Life and Nomura collectively engaged in unlawful practices by misrepresentations and omissions to investors who purchased the Swiss Life annuity through JML. Plaintiffs allege Defendants breached their fiduciary duties to Plaintiffs by investing Plaintiffs money with Madoff while failing to perform adequate due diligence, despite many red flags. As a result of Defendants' many violations, purchasers of the annuities lost a significant portion of their investment when the Madoff Ponzi scheme collapsed.
Plaintiff seeks to recover damages on behalf of all purchasers of Swiss Life annuities offered through JML from January 3, 2006 to December 10, 2008. The plaintiff is represented by The Law Offices of Howard Prossnitz with the firm of Sonn & Erez serving as local counsel.
The Law Offices of Howard Prossnitz has extensive experience in handling cases and arbitration claims for investors.