BEVERLY HILLS, Calif., Nov. 19, 2009 LawFuel Legal Newswire — Aidikoff, Uhl & Bakhtiari announces the launch of www.citinternotes.com and investigation of the sales practices of Wall Street firms in recommending CIT InterNotes to their clients.
As capital became less available to CIT from institutional investors that it had relied on in the past, the company began marketing products to retail investors. In essence, the retail marketing plan allowed CIT to offload risk without the transparency it would face from institutional lenders.
“Investors who purchased CIT InterNotes may have been led to believe that CIT InterNotes were a suitable, conservative and stable investment at a time when CIT was under considerable financial pressure,” stated attorney Philip M. Aidikoff.
“The Financial Industry Regulatory Authority (FINRA) has taken note of this situation and is currently investigating whether the risks to CIT InterNotes were adequately disclosed to prospective clients,” said attorney Ryan K. Bakhtiari. “Investors should consider all of their options if they have suffered losses in CIT InterNotes.”
The individual brokers and individual advisors who sold CIT InterNotes are not targets of investor claims.
Aidikoff, Uhl & Bakhtiari represents retail and institutional investors around the world in securities arbitration and litigation matters.
Attorneys for the firm have appeared before the Financial Industry Regulatory Authority (FINRA) and in numerous state and federal courts to resolve financial disputes between customers, banks, brokerage firms and other financial institutions. More information is available at www.citinternotes.com or www.securitiesarbitration.com or to discuss your options please contact an attorney below.