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On July 16, 2009, the Securities and Exchange Commission ("SEC") filed fraud charges against Medical Capital Holdings in connection with the sale of $77 million of private securities. On the same day, FINRA issued a sweep notice to obtain information from several broker-dealers regarding the sale of Medical Capital securities. Various independent broker-dealers sold Medical Capital securities including American Portfolios Financial Services, Inc., National Securities Corp., Securities America, Inc., Signature Financial Group and Community Bankers Securities. Under NASD Rules, broker-dealers have an obligation to make suitable recommendations to their customers and to conduct adequate due diligence into the investment.
Retail and institutional investors who purchased Medical Capital securities from a full-service broker-dealer and sustained significant losses can contact K&T to explore their legal rights and options. The attorneys at K&T are dedicated to pursuing claims on behalf of investors who have suffered investment losses. K&T, an experienced, qualified and nationally recognized securities litigation law firm, practices exclusively in the field of securities arbitration and litigation. It continues its representation of investors throughout the world in securities arbitration and litigation matters against major Wall Street brokerage firms.
If you have information relating to this investigation or have investment losses of $200,000 or more in Medical Capital securities, please contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956 or visit us on the web at http://www.nasd-law.com.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Klayman & Toskes P.A.
CONTACT: Klayman & Toskes, P.A. 888-997-9956
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