Gilman and Pastor LLP Announces Class Action Lawsuit Against AIG and Major Investment Banking Firms

February 6, 2009

BOSTON, Feb. 5 / -- The national law firm of Gilman and Pastor LLP (http://www.gilmanpastor.com) with offices in Boston, Massachusetts, and Naples, Florida, announces that a class action lawsuit has been brought on behalf of persons who purchased American International Group, herein ("AIG") Series FP Structured Notes (the "Notes") through several major investment banking firms since November 17, 2006. The latest wave of failed and fraudulent investments involves "structured investments". Such structured notes subjected investors to significantly more risk than may have been disclosed. Holders of these notes face losses, in some cases, of their entire principal investments. Gilman and Pastor LLP is finding that many investors have not been aware of their financial plights since their financial statements generally have not reflected current value but only alleged value at maturity.

Gilman and Pastor LLP is investigating over thirty (30) structured note issuers and more than forty (40) banks who have issued or sold structured offerings. These include:

    ABN AMBO Bank N.V.                Incapital LLC
    AIG                               JP Morgan Chase
    Bank of America                   Lehman Brothers
    Barclays Bank                     Merrill Lynch
    Bear Stearns                      Morgan Keegan
    Charles Schwab                    Morgan Stanley
    Citigroup                         RBC Royal Bank
    Countrywide Securities            Societe Generale
    Credit Suisse                     Sun Trust Bank
    Deutsche Bank                     UBS
    E-Trade                           Wachovia Corporation
    Harris National Association

"We are identifying offerings that made serious misstatements and omissions of material fact and deceived investors as to the risks of investing in these notes," Gilman and Pastor LLP said in a statement. The structured investments were generally offered and sold as suitable for investors seeking to protect their entire principal investment. Issuers and sellers allegedly touted and emphasized the protection of principal as a chief objective, when investors are now learning they may be at risk for losing virtually all of their investment. Investors should act promptly to protect their interests.

For nearly 30 years, Gilman and Pastor LLP has been one of the nation's leading firms representing investors in securities fraud actions and litigation to correct egregious corporate practices and breaches of fiduciary duty to investors. To discuss investment losses that exceed $100,000, contact us in confidence by calling (888) 252-0048 or online as follows:

   For More Information as to Specific Offerings, see
   http://structuredproductsinvestmentfraud.com and
   http://www.structured-investment.com 
SOURCE Gilman and Pastor LLP