San Francisco, CA (PRWEB) July 28, 2009
The Alcala Law Firm is investing the sale of alternative investments by Smith Barney Brokers to their high net worth customers. Smith Barney is a division of Citigroup Global Markets. The firm recently changed its name to Morgan Stanley Smith Barney LLC following the merger between the two firms.
The alternative investments sold by Smith Barney brokers that are under investigation include the following: The Municipal Opportunity Fund Two ("MAT Two"); MAT Three; CPI Capital Partners Europe LP ("CPI Europe"); UBP Selectinvest ARV LP; UBP Selectinvest ARV Ltd. ("UBP Call Option"); and others. A putative securities class action (ECA Acquisitions, Inc. v. MAT Three LLC, et al.) relating to the MAT Two and MAT Three funds is pending against Citigroup and others before the U.S. District Court for the Southern District of New York. Customers who invested in these funds have suffered significant losses in these highly illiquid investments. When recommending these alternative investments to their clients, Smith Barney brokers allegedly misrepresented the risky and speculative nature of these funds. If the class action becomes certified, affected investors will have a limited period of time to decide whether to participate in the class action or opt out and pursue their own individual claim.
Smith Barney customers who purchased any of these alternative investments are urged to contact the Alcala Law Firm to discuss their options. The Alcala Law Firm, based in San Mateo, California, handles disputes between public customers, brokerage firms and financial consultants through arbitration, mediation and litigation. Please contact us (650) 343-4424 or by visiting http://www.securitiesdisputes.com.