CORAL SPRINGS, Fla., June 25, 2007 (PRIME NEWSWIRE) -- The Securities and Commodities Law Firm Blum & Silver, LLP (http://www.stockattorneys.com) announced today that it has filed an arbitration before the National Association of Securities Dealers, Inc. ("NASD"), Case No. 2007-00774, on behalf of a former Brookstreet customer for an unsuitable trading strategy regarding CMO's derivatives which resulted in large losses. The claim seeks compensatory damages directly related to the unsuitable use of leverage and misconduct through the firm's proprietary trading activity in the CMO's through National Financial Services, a Fidelity investments unit.
The sole purpose of this release is to investigate, on behalf of our client, potential sales practice violations by Brookstreet and others. Blum & Silver, LLP is pursuing arbitration suits before the NASD for securities violations including failure to supervise, negligence, unsuitability claims, misrepresentation and material omissions of fact. We would greatly appreciate any information from other investors concerning the method or process used by the brokerage firm with regard to clients' trading activity and the handling of their accounts.
The Law Offices of Blum & Silver, LLP is a nationally-recognized securities law firm headquartered in Coral Springs, Florida. The primary focus of the firm is representing investors worldwide with their claims for losses due to stockbroker misconduct and brokerage firm negligence in securities litigation and arbitration matters. The firm is the lead counsel in numerous securities arbitration cases against many brokerage firms for the sale of CMO's and other products. If you wish to discuss this announcement or have information relevant to our securities arbitration claims, please contact Darren C. Blum, Esq. of Blum & Silver, LLP, at 1-877-STOCK LAW (1-877-786-2552) or visit us on the web at http://www.stockattorneys.com.
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