NEWPORT BEACH, Calif., April 10, 2010 (GLOBE NEWSWIRE) -- The Securities Law Firm of Klayman & Toskes ("K&T"), www.nasd-law.com, announced today that it is continuing to pursue claims on behalf of investors from across the country that have lost money in Medical Capital Notes. K&T has filed securities arbitration claims against various brokerage firms,on behalf of investors, to recover losses sustained in Medical Capital Notes. The claims were filed with FINRA Dispute Resolution.
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 brokerage firms regarding the sale of Medical Capital securities. Earlier this year, the Massachusetts Securities Division filed an Administrative Complaint against Securities America concerning its sales of Medical Capital Notes. According to Massachusetts Secretary of State Bill Galvin, "Our investigation showed that Securities America ignored their own due diligence analysts and sold these notes to unsophisticated investors without telling them the risks involved." Galvin added, "People invested their life savings, while this dealer hid from them the truth of what they were getting into."
While a class action lawsuit has been filed regarding Medical Capital Notes, K&T reminds investors of the benefits of filing an individual securities arbitration claim, as opposed to participating in a class action lawsuit. By participating in a class action lawsuit, an investor may only recover a nominal amount. However, if one has experienced significant losses in Medical Capital Notes, it may be more beneficial for them to file an individual securities arbitration claim. In 2003, K&T conducted a detailed study of securities arbitration versus class action. The study concluded that investors who file a securities arbitration claim traditionally obtain an overall higher rate of recovery as opposed to participating in a class action lawsuit. To view the full results of the comparison, please visit our web-site: http://www.nasd-law.com/documents/classvr.pdf
Investors who purchased Medical Capital securities from a full-service brokerage firm 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. K&T is presently representing investors from across the country who invested in Medical Capital Notes.
If you have information relating to this announcement or have investment losses of $100,000 or more in Medical Capital Notes, 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.