NEW YORK, Jan. 30, 2006 (PRIMEZONE) -- The Securities Arbitration Law Firm of Klayman & Toskes, P.A. ("K&T") (http://www.nasd-law.com), representing numerous aggrieved investors throughout the nation, advises all Banc of America customers who are eligible to participate in the Settlement of the Initial Public Offerings Securities Litigation (In Re Initial Public Offering Securities Litigation, No. 21 MC 92 (SAS)), to explore all of their legal options against Banc of America, one of the non-settling defendant underwriters. According to K&T, investors should strongly consider pursuing an individual securities arbitration claim as a means to recovering their financial losses.
According to the IPO Securities Litigation, various issuers and underwriters caused securities to trade at artificially inflated prices in connection with the initial public offering of the securities, causing customers to lose billions of dollars. Investors who may have a claim against Banc of America, a non-settling defendant underwriter, include those who suffered net losses as a result of their purchase and/or receipt of the following stocks through Banc of America, during the relevant time periods:
1. Digital Insight (Nasdaq:DGIN) Sep. 30, 99 - Dec. 6, 00 2. Digitas (Nasdaq:DTAS) Mar. 13, 00 - Dec. 6, 00 3. Saba Software (Nasdaq:SABA) Apr. 6, 00 - Dec. 6, 00 4. UTStarcom (Nasdaq:UTSI) Mar. 2, 00 - Dec. 6, 00
Several defendant underwriters, including Banc of America, have not settled with the Class Members of the Initial Public Offering Securities Litigation. Therefore, K&T urges investors who suffered substantial losses to proceed with a securities arbitration claim against Banc of America, rather than waiting for a potential class action settlement. Empirical evidence shows that investors may achieve an overall higher rate of recovery by filing an individual securities arbitration claim.
Accordingly, K&T plans to assist individual investors who purchased and/or received an allocation of shares through an IPO to recover their financial losses from Banc of America, in securities arbitration claims before the National Association of Securities Dealers and the New York Stock Exchange. Additionally, because the IPO Securities Litigation is not the exclusive remedy for injured investors, K&T strongly encourages all eligible IPO Settlement recipients to contact Lawrence L. Klayman, Esquire, at 888-997-9956 to discuss their legal options and/or the possibility of pursuing an individual securities arbitration claim. You may also visit us on the web at http://www.nasd-law.com.