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Robert Rex
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This blog is written by Robert H. Rex, Esq. who is a securities attorney and a passionate advocate for investors rights. With over 30 years of legal experience, 25 of which have dealt almost exclusively with the recovery of stockmarket and investment losses for mostly elderly clients, he and his... More
My company:
Rex Securities Law
My blog:
Rex Investment Loss Recovery Blog
  • Rex Securities Law Investigates Lexington Capital Funding III CDO  0 comments
    Mar 26, 2012 7:29 PM

    Have you or your loved ones suffered losses as a result of purchasing Lexington Capital Funding III Collateralized Debt Obligation (CDO) ?

    We may be able to help you recover some or all of your losses.

    This complex product was sold by Merrill Lynch to institutions and customers with high net worth. Just over a year after offering these CDOs to the market, virtually all of the CDOs Merrill had underwritten were in technical default.

    On August 8, 2008, Fitch Ratings downgraded 4 classes of Lexington Capital Funding III notes, stating "Fitch's rating actions reflect the significant collateral deterioration within the portfolio, specifically from subprime residential mortgage-backed securities....." Fitch went on further to describe that the portfolio was 91% comprised of vintage US sub-prime residential mortgage backed securities from 2005, 2006 and 2007, and that since Fitch's prior rating in November 2007, 92% of the portfolio had been downgraded. Here is a link to Fitch's press release.

    Given the fact the offering closed in January 2007, and was in default 18 months later, securities attorneys nationwide are concerned about the apparent lack of due diligence prior to the offering as well as the marketing methods employed.

    If you have suffered losses in this investment or have other stock market losses you are concerned about, please do not hesitate to contact us at 561 391 1900.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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