Notice to All Salomon Smith Barney n/k/a Citigroup Global Markets Inc. Clients From the Securities Arbitration Law Firm of Klaym
17 Marzo 2005 - 4:34PM
PR Newswire (US)
Notice to All Salomon Smith Barney n/k/a Citigroup Global Markets
Inc. Clients From the Securities Arbitration Law Firm of Klayman
& Toskes, P.A. NEW YORK, March 17 /PRNewswire/ -- The Law Firm
of Klayman & Toskes, P.A. ("K&T") (
http://www.nasd-law.com/ ) continues to pursue individual
securities arbitration claims before the National Association of
Securities Dealers ("NASD") and the New York Stock Exchange
("NYSE") on behalf of high net worth investors who prefer not to
participate in, and investors who are ineligible to recover from,
the $433 million research analyst distribution fund created by the
Securities and Exchange Commission ("SEC"). The distribution fund
follows the decision against several brokerage firms including
Salomon Smith Barney by the SEC (SEC v. Salomon Smith Barney No. 03
Civ. 2945 WHP) for the violation of the Securities and Exchange Act
of 1934 ("Exchange Act") and for violation of NASD rules 2110 and
2210 and NYSE rules 401, 472 and 476 (a)(6). Although the market
capitalization lost in excess of $1 billion, the distribution fund
has only allocated $157.5 million for the following stocks
purchased through Bear Stearns. 1. Adelphia Business Solutions Inc.
May 14, 04 - Aug. 28, 02 2. AT&T Corp. (NYSE:T) Nov. 29, 99 -
Jan. 25, 00 3. Level 3 Communications, Inc. (NASDAQ:LVLT) Apr. 18,
01 - Jun. 18, 01 4. Comverse Technology, Inc. (NASDAQ:CMVT) Mar.
28, 01 - Jun. 26, 01 5. XO Communications Inc. (OTC:XOCM) (BULLETIN
BOARD: XOCM) Apr. 26, 01 - Nov. 1, 01 K&T currently represents
numerous high net worth investors who have filed individual
securities arbitration claims. Investors suffering large losses
achieve an overall higher recovery rate through arbitration than
any other means. Empirical evidence shows that when an investor
suffers losses in larger amounts, usually in excess of $100,000, an
individual dispute resolution process such as an arbitration claim
filed before the NYSE or the NASD may be the best means of
recovering losses suffered. K&T has offices in California,
Florida, Nebraska, and New York and represents investors throughout
the nation. The sole purpose of this release is to investigate, on
behalf of our clients, sales practice violations of licensed
brokers at major investment firms. If you wish to discuss this
announcement or have information relevant to our securities
arbitration claims, please contact Lawrence L. Klayman at
1-888-997-9956 or visit us on the web at http://www.nasd-law.com/.
DATASOURCE: Klayman & Toskes, P.A. CONTACT: Lawrence L.
Klayman, Klayman & Toskes, P.A., +1-888-997-9956 Web site:
http://www.nasd-law.com/
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