Coral Gables, FL (PRWEB) July 16, 2008
The Law Firm of Tramont Guerra & Nunez, PA (TGN) makes an announcement to all bank stock investors who acquired the stock through a bank merger or acquisition. Over the past decade, community and regional banks throughout the country have been consolidated through bank merger or acquisition by major banking institutions, such as Wachovia, Bank of America and Washington Mutual. In many instances, these bank stock positions represent a significant portion of their personal and family wealth. The stock market losses sustained have decimated the value of a lifetime of investment. TGN recognizes there is important information that these shareholders need to understand. This information concerns issues such as the required standards of care and whether the stock was held in bank trust or brokerage account.
The financial services industry has standards of care for the handling of securities held in both types of accounts concerning investment advice and supervision. The member firms are charged with compliance with the securities industry rules and regulations. Failure to comply with the rules and regulations can result in sanctions and penalties. In particular, specific standards of care are required for the handling of investor accounts concentrated in a single stock position. Failure to implement risk management strategies to protect the value of a concentrated stock position can represent unsuitable investment advice and a failure to supervise client accounts.
In some instances, depending on the state of domicile, stock held in a trust bank account have significant restrictions on the time allowed on claims made for damages concerning stock market losses from unsuitable investment advice. These time restrictions create the necessity for an immediate review of the recent losses sustained in a concentrated bank stock position held in a bank trust accounts.
To request a confidential consultation from a TGN attorney concerning stock market losses, go to our website at http://www.stockmarketlosslawyer.com. The hiring of an attorney for legal advice is an important decision which should be made after consideration of all relevant factors, which include, but are not limited to, qualifications and experience.
To learn more about TGN contact us for an information kit. To contact by telephone call (888) 752-3348 and ask for Stephen Ostrofsky, CFP®.