latest news releases from the newsroom
Klayman & Toskes P.A.
Notice From the Securities Law Firm of Klayman & Toskes to All Banc of America Customers Who Purchased Collateralized Debt Obligations
NEW YORK, June 2, 2009 (GLOBE NEWSWIRE) -- A FINRA arbitration claim, Case No. 09-02485, has been filed by a former Banc of America (NYSE:BAC) broker against the firm, alleging that Banc of America improperly promoted sales of risky products, including Collateralized Debt Obligations ("CDOs"), to its customers. According to the Complaint, Banc of America "engaged in fraudulent practices which were in conflict with its investment clients, particularly with ... CDO's." When the broker voiced his concerns over the sales of the CDO's, the Complaint alleges that he was constructively terminated. Moreover, the Complaint alleges that "upper level BAIS management gave specific instructions to its employees to conceal the fraud associated with all of BAIS's Collateral Debt Obligation investments including but not limited to failing to secure collateral; fraudulent overvaluing of collateral; and concealing puts related to derivative provisions in the investments."
LTX-Credence Announces Diamond Selected as Preferred Platform By Silicon Turnkey Solutions (STS)
MILPITAS, Calif., June 2, 2009 (GLOBE NEWSWIRE) -- LTX-Credence Corporation (Nasdaq:LTXC), a global provider of focused, cost-optimized ATE solutions, and Silicon Turnkey Solutions (STS), a preeminent test solutions provider for IP validation, design verification, characterization and production test in Silicon Valley, today announced a business agreement that includes the selection of the Diamond platform as STS' preferred test platform for value-driven devices. The Diamond platform was selected for its ability to deliver lower production test costs when compared to other competing test platforms. Multiple Diamond systems have been installed and are available immediately for program development and production test services.