Court to Notify Purchasers of Callable Certificates of Deposit Bought Through Brokers...

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Mon May 18, 2009 8:01am EDT

Court to Notify Purchasers of Callable Certificates of Deposit Bought Through
Brokers About A Class Action Settlement

EDWARDSVILLE, Ill., May 18 /PRNewswire/ -- A notification program began today
as ordered by the Third Judicial Circuit Court of Madison County, Illinois to
alert those who purchased certain Callable CDs before March 9, 2008 about a
proposed $9.6 million settlement involving a case filed against ABN AMRO Bank
N.V. (also known as ABN AMRO Holding N.V.); ABN AMRO North America, Inc.;
LaSalle Bank, N.A.; Standard Federal Bank; and European America Bank (the
"Defendants").

This lawsuit claims that the Defendants, prior to March 9, 2008, did not
adequately disclose the risks associated with callable certificates of deposit
("Callable CDs") sold by brokers (including brokers affiliated with a bank or
financial institution).  Specifically, the lawsuit alleges that the Defendants
did not adequately inform the purchasers of Callable CDs that they might
suffer losses if they were sold prior to call or maturity, or otherwise failed
to make full and accurate disclosure regarding material aspects of those CDs
prior to purchase.  The settlement does not mean that any law was broken or
that the Defendants did anything wrong. The Defendants deny all legal claims
in this case.

The Class includes anyone (including institutional investors) who bought a
Callable CD at the full principal amount before March 9, 2008 from a broker
(including brokers affiliated with a bank or financial institution) and
either: (1) lost money when they sold their Callable CD prior to call or
maturity for less that the purchase price; or (2) unsuccessfully attempted to
sell or redeem the Callable CD for full principal amount prior to maturity. 
Only CDs issued, distributed or underwritten by any of the Defendants are
included in the settlement.  Class members can go to www.CallableCDclass.com
and search the CD database using the CD CUSIP number, issuer, issue date,
interest rate or original maturity date, or call 1-800-754-3341 to find out if
their CD is included in the settlement.

Notices informing Class members about their legal rights are scheduled to
appear in national newspaper supplements and a consumer publication leading up
to a hearing on October 26, 2009, when the Court will consider whether to
grant final approval to the settlement.

The Court has appointed the law firms of Richardson, Patrick, Westbrook &
Brickman, LLC of Charleston, SC and Johnson, Pope, Bokor, Ruppel, & Burns, LLP
of Tampa, FL to represent the Class as "Class Counsel."

Those affected by the settlement can send in a claim form to ask for payment,
or they can ask to be excluded from, or object to, the settlement.  Claim
forms must be postmarked no later than January 8, 2010.  The deadline for
exclusions and objections is August 24, 2009.

A toll-free number, 1-800-754-3341, has been established in this case (called
Dolen v. ABN AMRO Bank N.V., No. 01-L-454), along with a website,
www.CallableCDclass.com, where notices, claim forms, a searchable database of
Callable CDs, the settlement agreement, and the Court's preliminary approval
order may be obtained.  Those affected may also write to Callable CD
Settlement, PO Box 427, Birmingham, AL 35201-0427.

SOURCE  Third Judicial Circuit Court of Madison County, Illinois

Plaintiffs: Guy M. Burns, Johnson, Pope, Bokor, Ruppel & Burns, LLP,
+1-813-225-2500; Defendants: Shirley Norton, Bank of America, +1-415-913-4417
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