NEW YORK, Dec. 3, 2008 (GLOBE NEWSWIRE) -- The Law Firm of Napoli Bern Ripka, representing numerous high net-worth investors throughout the nation, advises all investors of Citigroup's MAT Five Fund who are eligible to participate in the settlement of the Raymond et al. v. MAT Five, LLC, et al., Case No. 3843-VCL, ("Class Action") that they have until December 5, 2008 to opt-out of the Class Action should they desire to pursue arbitration claims.
Any MAT Five investor who fails to opt out will be bound by the class action settlement that will provide for an exchange of their interests at current (but unspecified) "Net Asset Value" plus five cents, less costs and attorneys' fees that are also not specified.
Napoli Bern Ripka has filed FINRA Arbitration claims on behalf of individual MAT Five victims. The firm is of the considered belief that FINRA Arbitration provides an opportunity to maximize recovery. While there is no guarantee that arbitration will yield a greater return than the class action, all investors should consider the potential benefits and risks of opting out of the class and file an individual arbitration claim. Citigroup MAT Five victims considering opting out of the class action should contact attorney, Vincent Imbesi, to discuss proceeding with their claims in arbitration.
The law firm of Napoli Bern Ripka has recovered over 1.5 billion dollars ($1,500,000,000) for its clients. The firm's attorneys have represented hundreds of investors in FINRA arbitrations. Napoli Bern Ripka is a nationally known plaintiff's law firm with offices in New York City, Long Island, New Jersey, and Philadelphia. In addition to stock fraud claims, the firm represents clients in personal injury matters, medical and other professional malpractice, and pharmaceutical products liability (diet drugs, Rezulin and Trasylol) as well as toxic tort and other environmental claims. The firm has more than 60 years of combined litigation experience in trial and appellate courts.
Senior Partners Marc Jay Bern and Paul J. Napoli have been chosen for inclusion in New York Super Lawyers(r) for 2007 and both are members of the prestigious Litigation Counsel of America. Both Bern and Napoli are also long-time members of the invitation-only Million Dollar Advocates Forum.
No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers.