Legal Eagle Review - Citigroup's MAT and ASTA Hedge Fund Collapse Under Investigation

Citigroup's MAT and ASTA Hedge Fund Collapse Under Investigation

Written by PrimeNewsWire

Wednesday, 30 July 2008

Beverly Hills, California - The decline of Citigroup's fixed income hedge funds has led to investor claims and an investigation of Citigroup, Inc. (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 MAT and ASTA funds employed leverage to purchase municipal bonds," said attorney Ryan K. Bakhtiari, of Aidikoff, Uhl & Bakhtiari. "ASTA and MAT appear to have suffered losses in the range of 60% to 80%."

"We encourage all investors to obtain an attorney opinion about their MAT and ASTA losses," said Thomas Hargett of Maddox, Hargett & Caruso, P.C. "We believe that investors have recourse and may be able to recover damages as a result of their purchases of MAT 5 and ASTA."

The law firms are investigating the hedge funds that have been adversely impacted by the credit crisis.

CONTACT:  Aidikoff, Uhl & Bakhtiari
          Ryan K. Bakhtiari
          (800) 382-7969 
          
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          Beverly Hills, California

          Maddox, Hargett & Caruso, P.C.
          Thomas A. Hargett
          (800) 505-5515
          
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          Indianapolis, Indiana; New York, New York

          Page Perry, LLC
          J. Boyd Page 
          (877) 673-0047
          
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          Atlanta, Georgia

          David P. Meyer & Associates, Co., L.P.A.
          David P. Meyer
          (866) 827-6537
          
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          Columbus, Ohio