MIAMI, Jan. 20, 2009 (GLOBE NEWSWIRE) -- The Law Firms of David R. Chase, P.A. (www.davidchaselaw.com) and Dimond Kaplan & Rothstein, P.A. (www.dkrpa.com) announce that they are investigating claims on behalf of several Bank Hapoalim customers concerning Bank Hapoalim's recommendation and sale of Lehman Brothers "Principal Protected Notes."
The law firms have spoken with multiple Bank Hapoalim customers residing in South America and are investigating whether Bank Hapoalim, through its financial advisors, made full, complete, and accurate representations about the Lehman Principal Protected Notes, including disclosure of the very material risks of default by Lehman Brothers. The law firms also are investigating whether Bank Hapoalim's recommendations of the Lehman Principal Protected Notes were suitable, particularly for those elderly or otherwise conservative investors seeking principal protection and income.
Principal protected notes (also known as guaranteed linked notes) are structured investment products that can be linked to a broad range of underlying investments, including indexes, options on indexes, baskets of stocks, bonds, and even alternative investments such as hedge funds. They often combine derivatives with equities and/or fixed-income investments. Principal protected notes were marketed to conservative, risk-averse investors who were seeking to preserve their capital and generate income as well as share in the growth of the general market.
But the principal protected notes actually subjected investors to far more risk than they were led to believe. Specifically, after Lehman Brothers filed for bankruptcy protection in September 2008, holders of the Lehman principal protected notes may have to wait in line with other unsecured creditors to recover what is left of their money, if anything.
The Law Firm of David R. Chase, P.A., has extensive experience representing defrauded investors worldwide in securities litigation matters. The Firm's principal, David R. Chase, previously served as Senior Counsel in the Enforcement Division of the Securities and Exchange Commission and as a Special Assistant United States Attorney in the Economic Crimes Division of the United States Attorney's Office in the Southern District of Florida. More about the firm is available on its website at: www.davidchaselaw.com.
Dimond Kaplan & Rothstein, P.A. is an AV-Rated law firm that represents investors throughout the United States, Latin America and Europe in stockbroker misconduct and investment fraud cases. The firm has represented investors against most major Wall Street brokerage firms in claims involving stocks, bonds, options, auction rate securities, mutual funds, hedge funds, and other structured products. The firm has professionals fluent in Spanish and Portuguese. More about the firm is available on its website at: www.dkrpa.com or www.investmentfraud-lawyer.com.
The Dimond Kaplan & Rothstein, P.A. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4684
If you lost money in a Lehman Brothers structured note or principal protected note or structured products issued by Bank Hapoalim or another brokerage firm, please contact David Chase at (954) 920-7779 or e-mail at david@davidchaselaw.com, or Jeffrey Kaplan of Dimond Kaplan & Rothstein, P.A. at (305) 374-1920 or e-mail at jkaplan@dkrpa.com for a free case evaluation.