Class action lawsuits filed against Capital Financial Services, National Securities Corp., Cullum & Burks Securities, Inc., Securities America, Inc., Ameriprise Financial, Inc., and CapWest Securities, Inc. for their sale of Medical Capital Notes.
San Francisco, CA (PRWEB) November 19, 2009 -- The law firm of Girard Gibbs LLP (http://www.girardgibbs.com/medicalcapital.asp) announces that a class action lawsuit has been filed on behalf of all persons or entities who purchased notes issued by Medical Provider Financial Corp. III, Medical Provider Financial Corp. IV, Medical Provider Funding Corp. V and/or Medical Provider Funding Corp. VI (the “Medical Capital Notes”) from Capital Financial Services on or after September 18, 2006.
The class action, captioned Ribacchi et al. v. Capital Financial Services, Inc. et al., 09-cv-8482 DSF (RNBx), is pending in the United States District Court for the Central District of California. The case is related to previously-filed class actions brought against National Securities Corp., Cullum & Burks Securities, Inc., Securities America, Inc., Ameriprise Financial, Inc., and CapWest Securities, Inc., all of which offered and sold the Medical Capital Notes to investors.
According to the lawsuit, the private placement memoranda issued for the Medical Capital Notes misrepresented and omitted material facts related to terms of the offerings, the use of the investors’ funds, the track record of various Medical Capital entities, the backgrounds and qualifications of the executives responsible for running the companies, and the overall risks of an investment in the Medical Capital Notes. In addition, it is alleged that the Medical Capital Notes should have been registered with the SEC, but were not. According to the Complaint, the defendants violated federal securities laws by offering and selling the unregistered Medical Capital Notes pursuant to materially false and misleading prospectuses.
If you purchased or otherwise acquired Medical Capital Notes from Capital Financial Services, National Securities Corp., Cullum & Burks, Securities America, Ameriprise Financial and/or CapWest Securities on or after September 18, 2006 you may, no later than November 20, 2009, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your ability to share in any recovery is not affected by the decision whether or not to serve as a lead plaintiff. You may retain Girard Gibbs LLP, or other attorneys, to serve as your counsel in this action.
If you purchased Medical Capital Notes from any of the named defendants or from any other brokerage firm and wish to discuss your rights, please contact Girard Gibbs LLP toll-free at (866) 981-4800. A copy of the complaint is available from the Court, or can be viewed on Girard Gibbs LLP’s website at: http://www.girardgibbs.com/medicalcapital.asp
Girard Gibbs LLP is one of the nation’s leading firms representing individual and institutional investors in securities fraud class actions and litigation to correct abusive corporate governance practices, breaches of fiduciary duty and proxy violations. For more information, please access the firm’s web site, www.girardgibbs.com/medicalcapital.asp. To discuss this class action with us, please contact the following attorneys:
Daniel C. Girard
Jonathan K. Levine
601 California Street, 14th Floor
San Francisco, CA 94108
Phone number: (866) 981-4800
Website: http://www.girardgibbs.com/medicalcapital.asp
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