SONN & EREZ, PLC FILES CLASS ACTION SUIT AGAINST MRT HOLDINGS, LLC.
Fort Lauderdale, Florida - October 9, 2007 - Sonn & Erez (http://www.sonnerez.com) today announced that a class action lawsuit has been commenced in the United States District Court for the Southern District of Florida on behalf of purchasers of the securities of MRT Holdings, LLC ("MRT" or the "Company") between March 1, 2006 and October 5, 2007, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Act of 1933 (the "Securities Act") and The Securities Exchange Act of 1934 (the "Exchange Act"). (view class action PDF)
If any MRT investor (hereinafter "investor") wishes to serve as lead plaintiff, you must move the Court no later than 60 days from today. If any investor wishes to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Jeffrey Sonn or via e-mail at jsonn@sonnerez.com. If you are an investor and are a member of this class, you may request a copy of the complaint as filed or join this class action by contacting plaintiffs' counsel at 954.763.4700. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges MRT and certain of its managers with violations of the Securities Act and the Exchange Act. MRT purports to operate, as an offshore investment company that invests in, among other things, trading of currencies through unidentified Swiss banks.
According to the complaint, during the Class Period, defendants offered and sold unregistered securities to the general public in unexempted offerings, in violation of Section 5(a) of the Securities Act. The complaint also alleges that the defendants issued materially false and misleading statements that misrepresented and failed to disclose: (i) the true nature of MRT's business, which the complaint alleges to be a fraudulent Ponzi scheme; and (ii) the unexempted, unregistered, and illegal nature of the securities offerings that MRT made to unsuspecting investors.
Plaintiffs seek to recover damages on behalf of all those who purchased MRT securities between March 1, 2006 and October 5, 2007, inclusive. The plaintiffs are represented by Sonn & Erez, which has experience in prosecuting investor class actions and extensive experience in actions involving financial fraud.
Sonn & Erez is based in Fort Lauderdale, Florida and fields lawyers experienced in both prosecuting and defending securities fraud class actions. The Sonn Erez Web site (http://www.sonnerez.com) has more information about the firm. Contact: Jeffrey Sonn or Scott L. Adkins at Sonn Erez for additional information at 1.866.fraud-11.
