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8 Trillion!!

 That's the estimated damage from securities fraud that the Miami Herald reported on August 4, 2002 in the article titled, "Wanted: Angry Investors".  To put it another way, that's $28,427.07 for every man, woman and child in the United States.

How could this have happened?  Who's to blame?  And how can you be a part of this exciting legal action?

Who's to blame?

Thousands of investors were defrauded of their life savings by greedy companies who were showed flagrant disregard for the interests of their clients. 

What are they worth?
Company   Market Cap ($B)
  Salomon Smith Barney (CitiGroup)  

146.0

  J.P. Morgan Chase  

36.5

  Goldman Sachs  

32.7

  Merrill Lynch  

29.6

  Credit Suisse First Boston  

23.7

  Prudential-Bache  

16.1

  Bear Stearns  

5.7

So what did they do?

 

  Unsuitable Recommendations  
  Conflicts of Interest – Analysts vs. Investment Banking  
  Misrepresentation/Omission (aka lying)  
  IPO "Spinning"  
  Excessive trading (aka “churning”)  
  Misappropriation (aka stealing)  
  Unauthorized investments  
  Failure to follow instructions