CORAL SPRINGS, Fla., July 16, 2008 (PRIME NEWSWIRE) -- Blum & Silver, LLP (http://www.stockattorneys.com), announced that it has filed a FINRA arbitration claim against Citigroup on behalf of investors in Citigroup's MAT Five Fund.
Blum & Silver, LLP continues investigating loses in the MAT Five Fund and other funds which have suffered devastating losses. Citigroup recently announced that it is extending the deadline for investors to accept a tender offer previously made by Citigroup.
A class action lawsuit has been filed against Citigroup Global Markets, Inc. ("Citigroup") (NYSE:C) and other related parties in the United States District Court for the Southern District of New York on behalf of purchasers of MAT Five, LLC ("MAT Five), Case No. 08-CV-4152.
We believe investors will achieve better results on their claims through individual arbitration claims rather than through the class action process.
We believe investors should consider all of their legal options prior to accepting any settlement offer from Citigroup or joining a class action.
Blum & Silver, LLP continues to investigate the matter including potential liability of other participants in the Fund. The Law Offices of Blum & Silver, LLP is a nationally-recognized securities and commodities law firm headquartered in South Florida with a satellite office in New York, New York. The primary focus of the firm is representing investors with their claims for losses due to stockbroker misconduct and brokerage firm negligence in securities and commodities litigation and arbitration matters. If you wish to discuss this announcement or have information relevant to our securities and commodities arbitration claims, please contact Scott L. Silver, Esq. or 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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