BEVERLY HILLS, Calif., April 21, 2008 (Lawfuel) — The decline
of Citigroup’s fixed income hedge funds has led to investor claims and
an investigation of Citigroup, Inc. (NYSE:C), according to a four-law
firm legal team with nationally recognized securities law experience.
But the brokers who sold the hedge funds are not targets of investor
claims, according to the investors’ legal team which includes the firms
of Aidikoff, Uhl & Bakhtiari, of Beverly Hills, Calif.; Maddox, Hargett
& Caruso, P.C., of Indianapolis, Ind. and New York, N.Y.; Page Perry,
LLC, of Atlanta, Ga.; and David P. Meyer & Associates Co., L.P.A., of
Columbus, Ohio.
“We are investigating the decline of fixed income portfolios that
Citibank sold. The Falcon, ASTA and MAT funds employed leverage to
purchase municipal bonds,” said attorney Ryan K. Bakhtiari, of
Aidikoff, Uhl & Bakhtiari. “Falcon appears to have lost more than 30%
of its value while ASTA and MAT appear to have suffered losses in the
range of 60% t0 80%.”
The law firms are investigating the hedge funds that have been
adversely impacted by the credit crisis.
A class action lawsuit was filed against Citigroup in the United States
District Court for the Southern District of Florida for purchasers of
the Falcon fund, A. Robert Zeff v. Citigroup Alternative Investments,
LLC et al., Case No. 2008cv80346.
If you are an investor that lost more than $100,000, you should
consider all legal options.
