NEWPORT BEACH, Calif., Sept. 15, 2010 (GLOBE NEWSWIRE) -- The Securities Arbitration Law Firm of Klayman & Toskes, P.A. ("K&T"), , encourages all Securities America customers who purchased Medical Capital Notes to consider their legal options in light of the class action that was filed against Securities America concerning Medical Provider Financial Corp. III, Medical Provider Financial Corp. IV, Medical Provider Funding Corp. V and Medical Provider Funding Corp. VI (collectively referred to as "Medical Capital Notes"). Potential class members who purchased Medical Capital Notes from Securities America should consider whether they should participate in the class action or file an individual securities arbitration claim.Securities America, the largest seller of Medical Capital Notes, was responsible for the sale of 37% of the total Medical Capital Notes nationwide since 2003, totaling $697 million.
Last month, Montana's Commissioner of Securities filed a Notice of Proposed Agency Disciplinary Action against Securities America in connection with its sales of Medical Capital Notes. According to the Notice, Securities America "withheld material information regarding heightened risks" from its registered representatives and their clients concerning Medical Capital Notes. Montana's Commissioner of Securities also alleged that Securities America "concealed these risks" from its brokers and their clients. Additionally, in 2009, the Massachusetts Securities Division filed an Administrative Complaint against Securities America in connection with its sales of Medical Capital Notes. Massachusetts alleged that Securities America ignored their own due diligence analysts and sold Medical Capital Notes to unsophisticated investors without telling them about the risks involved.
K&T reminds investors of the benefits of filing an individual securities arbitration claim, as opposed to participating in a class action lawsuit. By participating in a class action lawsuit, an investor may only recover a nominal amount. However, if one has experienced significant losses in Medical Capital Notes, it may be more beneficial for them to file an individual securities arbitration claim. In 2003, K&T conducted a detailed study of securities arbitration versus class action. The study concluded that investors who file a securities arbitration claim traditionally obtain an overall higher rate of recovery as opposed to participating in a class action lawsuit. To view the full results of the comparison, please visit our web-site:
Investors who purchased Medical Capital Notes from Securities America and sustained significant losses can contact K&T to explore their legal rights and options. The attorneys at K&T are dedicated to pursuing claims on behalf of investors who have suffered investment losses. K&T, an experienced, qualified and nationally recognized securities litigation law firm, practices exclusively in the field of securities arbitration and litigation. It continues its representation of investors throughout the world in securities arbitration and litigation matters against major Wall Street brokerage firms.
If you wish to discuss this announcement or have investment losses of $100,000 or more in Medical Capital Notes, please contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956, or visit us on the web at
CONTACT: Klayman & Toskes, P.A. 888-997-9956