Citigroup's Falcon, ASTA and MAT Hedge Funds
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% to 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.
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