11/02/09
NOTICE TO INVESTORS IN MEDICAL CAPITAL HOLDINGS NOTES ISSUED IN THE MEDICAL PROVIDER FUNDING CORP. OFFERINGS: LAW FIRM OF DAVID R. CHASE, P.A. -- HEADED BY FORMER SEC PROSECUTOR -- IS INVESTIGATING POTENTIAL CLAIMS TO RECOVER INVESTOR LOSSES
FORT LAUDERDALE, FL (November 2, 2009) - The Law Firm of David R. Chase, P.A., headed by former Securities and Exchange Commission Prosecutor and Special Assistant United States Attorney, David R. Chase, announces that it is investigating potential claims to recover investor losses against brokerage firms, including National Securities, Securities America and CapWest Securities, that sold the Medical Capital securities.
On July 16, 2009, the Securities and Exchange Commission filed an emergency court action to halt an alleged $77 million offering fraud perpetrated by Medical Capital Holdings, Inc., and others. The SEC's Complaint claims that the defendants defrauded investors by misappropriating about $18.5 million of investor funds and by misrepresenting to investors that no prior offerings had defaulted on or been late in making payments to investors of principal and/or interest.
Although a class action has been filed against certain broker-dealers that sold Medical Capital securities, investors who have suffered substantial losses should seriously consider pursuing their own individual FINRA arbitration claims as a potentially superior alternative to joining a class action. Unlike a class action, a FINRA arbitration claim allows you to: (1) chose your own counsel (only the lead plaintiff has this right in a class action), (2) have your unique facts presented to an arbitration panel, (3) control the decision whether to settle your case and for how much, and (4) generally secure a result within approximately twelve months, as opposed to potentially years with a class action.
The Law Office of David R. Chase, P.A., based in Fort Lauderdale, Florida, represents investors worldwide in cases against the major Wall Street Firms. David R. Chase has been practicing for over 17 years, is AV-Rated by Martindale-Hubbell -- its highest competence and ethics rating -- and previously served as a securities prosecutor for the Federal Government. More about the firm is available on its website at: www.davidchaselaw.com.
