Coral Gables, Florida (Vocus) April 29, 2010
The Securities Law Firm of Tramont Guerra & Nunez, P.A. (TGN) comments on trading halt and credit rating downgrades for AMCORE Financial, Inc. (“AMCORE”) and its banking subsidiary placed into receivership. Founded in 1910, the bank holding company changed its name to AMCORE Financial, Inc. when American National Bank and Illinois National Bank merged in 1985 to form the largest bank headquartered in Rockford, Illinois, AMCORE Bank, N.A. Recent developments have led to substantial losses for AMCORE shareholders. Investors in AMCORE should consider what recourse is available to recover their investment losses in AMCORE stock. The Financial Industry Regulatory Authority, (FINRA) is a self regulating organization with sales practice rules and regulations that govern the securities industry’s conduct and safeguard the investing public. For investors who accumulated shares in AMCORE, the recent developments represent a financial set back.
Many investors were advised by their financial advisors that an investment in AMCORE stock was a suitable investment. Brokerage firms are obligated to give, and investors are entitled to rely upon, brokerage firms for competent, suitable investment advice in accordance with FINRA Sales Practice Rules and Regulations. The Financial Industry Regulatory Authority, (FINRA) is a self regulating organization with sales practice rules and regulations that govern the securities industry’s conduct and safeguard the investing public. Recommendations of unsuitable investments and/or maintaining unprotected concentrated stock positions are both causes of action that may be available to investors against their full-service brokerage firm in an individual securities arbitration claim filed with FINRA.
The Securities Law Firm of Tramont Guerra & Nunez, PA, is a nationally recognized, Martindale Hubbell “AV” rated securities law firm. To request a confidential consultation from a TGN attorney to determine whether you have a viable individual securities arbitration claim for investment losses that exceed $250,000 from a full service brokerage account, contact us on our website. To speak directly with an attorney, call (888) 834-2171 and ask for Ben Fernandez, Esquire.