New York, NY (PRWEB) June 26, 2008
Silverman Acampora LLP and Bragar Wexler Eagel & Squire have filed a class action lawsuit on behalf of investors of the Falcon Plus Strategies (Falcon) fund seeking damages against Citigroup and its subsidiary entities including Citi Alternative Investments LLC for the substantial losses incurred in the investments. The lawsuit was filed in Supreme Court State of New York, New York County.
Clients of Silverman Acampora LLP, as investors in Citigroup's Falcon funds , reported that they sustained heavy losses (approximately ninety [90%] percent) in their investments. Citigroup, in marketing the funds, compared the funds to relatively safe, fixed-income investments. According to investors, Citigroup, its subsidiary entities, and each of their representatives also touted the investments as low risk and low volatility for guaranteed income, and stated that the investors' maximum loss of principal would range only between ten (10%) and fifteen (15%) percent.
Investors of Citigroup's Falcon funds are urged to explore legal options with Silverman Acampora LLP. Ronald J. Friedman, Esq. said, "We would be pleased to confer with any other investors in the Falcon funds. The class action lawsuits may help recover some of the substantial losses of the Citigroup fund investors."
About Silverman Acampora LLP:
SA and its attorneys provide legal services to a diverse group of institutional and private clients including substantial commercial litigation on behalf of Court-appointed fiduciaries. Among its clients are bankruptcy trustee's, federal and state court receivers, foreign and domestic commercial and investment banks, financial service companies, professional service companies, lenders and investors, entrepreneurs, entertainment firms, real property owners and developers and professional organizations. SA also represents companies in the oil and gas, communications, fashion, luxury goods, transportation, entertainment and high technology industries.
For more information about Silverman Acampora LLP, and to speak with a company official, please contact Ronald J. Friedman, Esq. at 516.479.6300 or visit http://www.SilvermanAcampora.com.