Ft. Lauderdale, FL. – Individual investors frozen in Auction Rate Securities investments should check whether their brokers told them that they were investing in cash equivalents such as certificates of deposits or money markets says Securities Fraud Attorney Mark Tepper, a former Chief Trial Counsel at the Bureau of Investor Protection and Securities in New York.
The stockbroker fraud Attorney is offering an initial free consultation to investors about their legal rights to recover investments in Auction Rate Securities.
Mr. Tepper counsels investors not to be embarrassed by being lulled into a false sense of security but to seek a better understanding of their legal rights.
“Even institutional investors were told that Auction Rate Securities were safe and while some appear to have been bailed out by their brokerage firms, individual investors have been left to fend for themselves in Wall Street’s latest meltdown of auction rate securities,” says Tepper who represents the interests of individual investors.
Auction Rate Securities were also called money markets, 7-day CDs, floaters and 7-day paper by some brokers who led investors to believe they were simply opening a money market account that was liquid with no risk,” Tepper says.
“If investors purchased Auction Rate Securities as a cash equivalent from Deutsche Bank, Goldman Sachs, Lehman Brothers, TD Ameritrade, Wachovia, UBS, Merrill Lynch, Citigroup, Morgan Stanley, JP Morgan, E*Trade, Raymond James, SunTrust, among other brokerage firms they need to be aware of their legal rights to recover their investments including the risk of losing the right to bring an individual claim,” he added.
New York’s attorney general and securities regulators in several U.S. states including Florida have launched a sweeping investigation into auction-rate securities and the role Wall Street firms had in inviting investors into the troubled market.
About Mark Tepper PA (www.MarkTepper.com)
Practicing law for over 30 years AV®-rated attorney Mark Tepper has earned a reputation as “Investor Advocate. He has successfully represented individual investors across the country including California, Connecticut, Delaware, Florida, Georgia, Illinois, New Jersey, New York, North Carolina, Pennsylvania, Washington DC, Washington state and abroad in Puerto Rico.
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