The Securities Law Firm of Tramont Guerra & Nunez, PA Announces Multi-Million Dollar Securities Arbitration Claim Filed Against Citigroup

CORAL GABLES, Fla.--(Business Wire)--
The Securities Law Firm of Tramont Guerra & Núñez, PA (TGN) announces the recent
filing of a multi-million dollar securities arbitration claim with the Financial
Industry Regulatory Authority (FINRA), Case No. 09-02765, against Smith Barney a
division of Citigroup Global Markets, Inc. (Citigroup). The securities
arbitration claim alleges an unsuitable concentration in Citigroup stock
(NYSE:C) and the recommendation of unsuitable option transactions for the
concentrated stock position. While the financial banking system collapsed, the
value of the concentrated stock position declined in excess of $2.5 million,
during which time Citigroup gave no advice to mitigate risk and damages to the
Claimant. The only advice Citigroup and its representative gave to the Claimants
was the continued reassurances to maintain exposure to the banking and financial
services sector. The securities arbitration claim arises from sales practice
rule violations, as set forth by the Financial Industry Regulatory Authority
(FINRA).

The FINRA sales practice rules and regulations are promulgated through member
firm internal compliance procedures which are established to protect investors
from investment losses that are the direct result of the violation of these
rules. In this instance, the claimants did not understand the risks associated
with securities concentration in the banking and financial sector of the
economy. Citigroup is required to supervise the handling of client accounts to
assure compliance with internal procedures. This arbitration claim filed with
FINRA seeks to recover losses stemming from the violation of these FINRA sales
practice rules and regulations. Recommendations of unsuitable investment
strategies and/or concentrated investments in the financial sector are both
causes of action that form the basis for individual securities arbitration
claims filed with FINRA.

The Securities Law Firm of Tramont Guerra & Núñez, PA, is a nationally
recognized, Martindale Hubbell "AV" rated securities law firm. To request a
confidential consultation from a TGN attorney to assist you in determining
whether you have a viable individual claim for investment losses that exceed
$100,000 from a full service brokerage account, contact us on our website. To
speak directly with an attorney, call (800) 578-0137 and ask for David Chacin,
Esquire.

http://www.stockmarketlosslawyer.com/press-releases/class-action-lawsuits-citigroup-arb.htm

Tramont Guerra & Núñez, PA, Coral Gables
David Chacin, Esquire, 800-578-0137
dec@rtgn-law.com
http://twitter.com/stocklawyers

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