as a result of the Defendant’s false and misleading statements, BAC’s options traded at artificially inflated prices during the Class Period.
Coral Gables (Vocus) April 9, 2010
The Securities Law Firm of Tramont Guerra & Núñez, PA (TGN) makes an announcement to all Bank of America (BAC) Call and/or Put Option investors concerning the class action lawsuit (Case No. 10 CV 01673) filed March 2, 2010, in the United States District Court, Southern District of New York, for the class period starting September 15, 2008 and ending January 22, 2010. The class action lawsuit, “arises out of the dissemination of materially false and misleading statements and omissions by Defendants concerning the financial conditions of BAC and Merrill and regarding BAC’s acquisition of Merrill Lynch.” The class action alleges that, “as a result of the Defendant’s false and misleading statements, BAC’s options traded at artificially inflated prices during the Class Period.” Prospective class members should consider whether an individual securities arbitration claim filed with the Financial Industry Regulatory Authority, (FINRA) is more effective than a class action for recovery of their investment losses.
Many investors were advised by their financial advisors that investments in BAC Call and/or Put Option contracts was a suitable investment strategy. Exchange traded options can be used to generate income, leverage investment returns or limit risk to an underlying security. 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. In some instance, recommendations of unsuitable investments in exchange traded options in a full-service brokerage account may result in a viable securities arbitration claim filed with FINRA. Furthermore, an individual securities arbitration claim may allow investors to recover investment losses from the unsuitable use of exchange traded options.
The Securities Law Firm of Tramont Guerra & Núñez, 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 in exchange traded options that exceed $100,000 in 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.