Gilman and Pastor, LLP

Recover Losses For Misrepresented Citigroup Principal Protected Investments


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Citigroup Investment Fraud

Legal Recovery of Losses from Citigroup Notes and Structured Investments

Investor Lawsuit

Gilman and Pastor LLP is representing persons and institutions who purchased CitiGroup structured investments which were represented as protecting investors’ full investments, from December 15, 2005 through the present date.  Plaintiffs allege that Citigroup and other parties deceived investors as to the risks of investing in the structured investments.  These Citigroup investments include but are not limited to the following:

  • Citigroup Index-Linked Notes – Citigroup Funding
  • Citigroup Principal Protected Trust Certificates – Citigroup Funding
  • Citigroup ELKS (Equity Linked Term Notes)
  • Citigroup LASERS (Leading Stockmarket Return Securities) – Citigroup Global Markets Holdings
  • Citigroup PISTONS (Portfolio Income Strategic Opportunity Notes)
  • Citigroup PACERS (Premium Mandatory Callable Equity-Linked Securities)
  • Citigroup SEQUINS (Select Equity Indexed Notes) – Citigroup Global Markets Holdings
  • Citigroup TARGETS (Targeted Growth Enhanced Terms Securities)

These describe structured products linked to an underlying stock, a basket of stocks or an index representing a group of stocks.

You may recover for losses in Citigroup structured investments that were marketed as 100 percent principal protected

Gilman and Pastor is currently pursuing investor complaints that certain brokerage firms, financial institutions and entities misled their clients into purchasing these purported fully principal protected notes, through assurances that their principal investment would be fully protected. Certain financial institutions including ABN AMBO Bank N.V., AIG, Bank of America, Barclays Bank, Bear Stearns, Charles Schwab, Citigroup, Countrywide Securities, Credit Suisse, Deutsche Bank, E-Trade, Harris National Association, Incapital LLP, JP Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Keegan, Morgan Stanley, RBC Royal Bank, Societe Generale, Sun Trust Bank, UBS, Wachovia Corporation and other companies marketed and are alleged to have sold principal protected notes to their clients, specifically targeting conservative, risk-averse investors who were seeking to preserve their capital and generate income. In fact, these notes subjected investors to significantly more risk than was disclosed. Holders of these principal protected notes (PPNs) face losses, in some cases, of their entire principal investment, unless they file a litigation claim.

The issuers, underwriters and sellers owed a duty to the investors to make a reasonable and diligent investigation of the statements contained in the Offering Materials to the investors at the time they became effective to ensure that such statements were true and correct and that there was no omission of material facts required to be stated to make the statements contained therein fair and accurate.  The issuers, underwriters and sellers allegedly did not make a reasonable investigation or possess reasonable grounds for the belief that the statements contained in their respective Offering Materials were true or that there was no omission of material facts necessary to make the statements made therein not misleading.

The issuers, underwriters and sellers allegedly issued and disseminated, caused to be issued and disseminated, participated in the issuance and dissemination of, material misstatements to the investing public contained in the Offering Materials, which represented or failed to disclose, inter alia the facts set forth above.  By reason of the conduct alleged herein, each defendant violated Section 11 of the Securities Act.

The Sales Agents for these offerings were obligated to make a reasonable and diligent investigation of the statements contained in the Offering Materials to ensure that such statements were true and that there was no omission of fact required to be stated in order to make the statements contained therein not misleading.  The Sales Agents failed to make a reasonable investigation or possess reasonable grounds for the belief that the statement contained in the Offering Materials were accurate and complete in all material respects.

The investors did not know, nor would they have known, of the untruths or omissions contained in the Offering Materials.

If you want to recover your losses concerning principal protected notes and wish to learn more about our investigation, please fill out the form on the right.

This video emphases the egregious nature of the fraud committed upon the investors.


Privacy Policy: Gilman and Pastor maintains the strict and confidential privacy of your message. We do not transfer your personal information, including your email address, to any third party. Information entered in the form will be used solely for informational purposes to assist in your case investigation.

Why Gilman and Pastor, LLP?

Gilman and Pastor is a national litigation firm specializing in securities litigation, consumer class actions and complex business litigation. For 30 years our attorneys have recovered more than a billion dollars on behalf of our clients.

Gilman and Pastor’s managing partner, Kenneth G. Gilman has extensive experience over the last 25 years in recovering funds related to fraudulent Ponzi schemes.  In 1985, Mr. Gilman was appointed by the United States District Court for the Southern District of Florida, as the Equity Receiver, to marshall and recover funds arising out of the massive Ponzi scheme known as the Intercontinental Commodity Pool Fraud.  Mr. Gilman pursued and recovered assets for investors from all responsible parties, including the firm’s auditors.  He also worked with the Department of Justice, international authorities in Switzerland and the Cayman Islands to penetrate bank secrecy laws and locate funds to which the investors were entitled.  He also worked with the U.S. Prosecutors to make certain that those who perpetrated the securities fraud were sentenced to jail for their crimes.

From 1982 through 1985, Mr. Gilman also represented the Receiver in the massive nationwide Lloyd Carr Ponzi scheme.  As part of that representation, he pursued responsible third parties as special counsel for the Department of Justice in Massachusetts Federal Court and in litigation nationwide.





Lawsuit Press Release

Learn More About Your Right To Recovery

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Name of Brokerage Firm:

Name of underlying fund or note:


Date acquired:

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