The Securities Law Firm of Klayman & Toskes Urges Investors of Citigroup's MAT 5 Fund to Explore Their Legal Options Regarding Class Action Settlement

• Press Release
• Source: Klayman & Toskes, P.A.
• On 2:47 pm EST, Wednesday November 19, 2008

NEW YORK, NY--(MARKET WIRE)--Nov 19, 2008 -- The Securities Arbitration Law Firm of Klayman & Toskes, P.A. (http://www.nasd-law.com), representing numerous high net-worth investors throughout the nation, advises all investors of Citigroup's MAT Five Fund who are eligible to participate in the settlement of the Raymond, et al. v. MAT Five, LLC, et al., Case No. 3843-VCL, ("Class Action"), that they have until December 5, 2008 to opt-out of the Class Action.

Klayman & Toskes strongly encourages all investors of the MAT Five Fund to consider securities arbitration as an alternative means to recover their financial losses. Investors who do not opt out of the class by the December 5, 2008 deadline will find their shares of the MAT Fund exchanged out at Net Asset Value, plus they will receive an additional five cents on the dollar. However, empirical evidence shows that investors may achieve an overall higher rate of recovery by filing an individual securities arbitration claim. Additionally, investors who have already accepted a tender offer from Citigroup can still opt out of the class action and file an individual arbitration claim.

The Securities Law Firm of Klayman & Toskes has filed arbitration claims against Citigroup Global Markets, Inc. (NYSE:C - News) with the Financial Industry Regulatory Authority's ("FINRA") Office of Dispute Resolution, on behalf of investors, for losses sustained in Citigroup's MAT Fund. The claims allege that Citigroup solicited many of its high net worth customers to invest in the Fund. Citigroup represented that the investment was a fixed income product that would provide tax-free returns of 5% to 8%, and that it was a "safe" and "secure" investment, not subject to a significant amount of volatility. However, the managers of the MAT Fund implemented risky, speculative trading strategies which resulted in the investment losing about 80% in value. Further, it is believed that Citigroup failed to adequately monitor the Fund and failed to implement risk management strategies to prevent the Fund managers from investing the assets in risky and speculative investments.

Moreover, many investors of the MAT Fund also purchased shares of Citigroup's ASTA Fund. Klayman & Toskes is also filing claims on behalf of investors of the ASTA Fund.

Klayman & Toskes reminds investors of the benefits of filing an individual arbitration claim, as opposed to participating in the MAT Five Class Action. By participating in the MAT Five class action, investors will only receive five cents on the dollar above the current Net Asset Value of their investment. However, it may be more beneficial for MAT Five investors to file an individual securities arbitration claim. In 2003, Klayman & Toskes 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: http://www.nasd-law.com/documents/classvr.pdf

As such, Klayman & Toskes will continue to represent individual investors who purchased Citigroup's MAT and ASTA Funds to recover their financial losses in securities arbitration claims before FINRA. Klayman & Toskes encourages all class members of the Raymond, et al. v. MAT Five, LLC, et al. Class Action to contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956, to discuss their legal options and/or the possibility of pursuing an individual securities arbitration claim. You may also visit us on the web at http://www.nasd-law.com.

NYSE: C

     Contact:
     Steven D. Toskes, Esquire
     Jahan K. Manasseh, Esquire
     Klayman & Toskes, P.A.
     888-997-9956
      
     http://www.nasd-law.com