Securities Law Firm of Tramont Guerra Nunez, PA Makes Announcement to All Current and Former Employees of Popular, Inc. Concerning ERISA Class Action Settlement

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Tramont Guerra Nunez, PA urges current and former employees who held Popular, Inc. stock with full-service brokerage firms, including Popular Securities, to consider what recourse is available to recover their investment losses.

The Securities Law Firm of Tramont Guerra & Nunez, P.A. (TGN) makes an announcement to all current and former employees concerning the Popular, Inc. ERISA class action (Case No. 3:09-CV-01552-ADC -BJM) settlement agreement for the case filed in US District Court for the District of Puerto Rico. According to a Popular, Inc. 8-K filing, the settlement with employees who participated in the Popular Inc. USA 401(k) Savings & Investment Plan and the Popular Inc. Puerto Rico Savings and Investment Plan was for $37.5 million. Founded in 1893, Popular, Inc. is the bank holding company for Banco Popular which is a leading banking institution in Puerto Rico, with branch locations in New York, New Jersey, Illinois, Florida and California. TGN urges current and former employees who held Popular, Inc. stock with full-service brokerage firms, including Popular Securities, to consider what recourse is available to recover their investment losses. 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 Popular, Inc., the recent developments represent a significant loss in income and investment.

According to TGN, many investors in Popular, Inc. stock represented a long term holding acquired through investment or as an employee of the company. Full-service brokerage firms are obligated to give, and investors are entitled to rely upon, brokerage firms for competent, suitable investment advice for investments made in customer accounts. Brokerage firms are required to supervise the activities in brokerage accounts, losses may be attributed to the failure to adequately supervise the stockbroker and the brokerage account. Recommendations of unsuitable investments and/or failure to recommend appropriate risk management strategies for 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 (800) 578-0137 and ask for David Chacin, Esquire.

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