Legal Media Matters

Carey & Danis LLC Announces Auction-Rate-Securities Class Action Lawsuit Filed Against Bank of America

NEWS RELEASE

July 18, 2008

Carey & Danis LLC Announces Auction-Rate-Securities Class Action Lawsuit Filed Against Bank of America (NYSE:  BAC).

St. Louis, MO – The law firm of Carey & Danis LLC has filed a class action lawsuit on behalf of persons who purchased auction-rate securities from Bank of America Corp. (NYSE: BAC), Bank of America Investment Services, Inc. and Bank of America Securities, LLC between June 11, 2003 and Feb. 13, 2008 and who continued to hold the securities as of Feb. 13, 2008.

The class action lawsuit, Cattell v. Bank of America Corp., et al., 08-cv-00511, is pending in the U.S. District Court for the Southern District of Illinois.  The suit alleges that Bank of America Corp. and its subsidiaries Bank of America Investment Services, Inc. and Bank of America Securities, LLC violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by deceiving investors about the investment characteristics of auction-rate securities and the auction market in which the securities are traded.

Auction-rate securities are municipal or corporate debt securities or preferred stocks that pay interest at rates set through periodic auctions.  The instruments typically have long-term maturity dates or no maturity date.

The suit filed on July 17 claims that, pursuant to uniform sales materials and top-down management directives, Bank of America offered and sold auction-rate securities to the public as highly liquid cash-management instruments and as suitable alternatives to money market mutual funds.  On Feb. 13, 2008, all of the major broker-dealers, including Bank of America, withdrew their support for the auctions.  The suit claims that, as a result, investors have been unable to liquidate their auction rate securities.

The lawsuit alleges that Bank of America failed to disclose the following material facts about the auction-rate securities it sold to the class:

• The auction-rate securities were not cash alternatives like money market funds but were instead complex long-term financial instruments with 30-year maturity dates.

• The auction-rate securities were only liquid at the time of the sale because Bank of America and other broker-dealers were artificially supporting and manipulating the market to maintain the appearance of liquidity and stability.

• Bank of America and other broker-dealers routinely intervened in the auctions for their own benefit to set rates and to prevent all-hold auctions and failed auctions.

• Bank of America continued to market auction-rate securities as liquid investments even after Bank of America and other broker-dealers determined that they would likely be withdrawing support for the periodic auctions and that a freeze of the auction-rate-securities market would result.

Investors who purchased or acquired auction-rate securities from Bank of America between June 11, 2003, and Feb. 13, 2008, and who continued to hold the securities as of Feb. 13, 2008, may request appointment as lead plaintiff by the Court on or before July 21, 2008.  A lead plaintiff is a representative party acting on behalf of other class members.  To be appointed, the Court must conclude that the investor’s claims are typical of other class members’ and that the investor will adequately represent the class.  The investor’s ability to share in any recovery is not affected by the decision to serve as lead plaintiff.  The investor may retain Carey & Danis LLC, or other attorneys, to serve as counsel.

Auction-rate-securities investors who wish to discuss their rights against Bank of America or any other broker-dealer may contact Carey & Danis LLC toll-free at 800-721-2519.  A copy of the lawsuit is available from the Court.

Carey & Danis LLC is a national law firm based in St. Louis that aids victims of corporate abuse, greed and neglect.  For more information, contact Joseph Danis (jdanis@careydanis.com), Michael Flannery (mflannery@careydanis.com) or Corey Sullivan (csullivan@careydanis.com).  You can also visit our website at www.careydanis.com.

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Media Contact: Geri L. Dreiling
Legal Media Matters LLC
314.743.3851 or 314.520.3897
legalmediamatters@sbcglobal.net

Ingenious PR

Kimmel & Silverman, a consumer law firm in Pennsylvania, deserves kudos for ingenious public relations work. When comedians Jimmy Kimmel and Sarah Silverman announced this week that they were no longer a couple, the lemon-law firm seized the opportunity to promote its practice.

On July 16 the law firm sent out a press release announcing that the firm, founded by Craig Kimmel and Bob Silverman, was still going strong after 18 years.

According to the press release, once the celebrities announced that they were breaking up the calls to 800-LEMON-LAW began pouring in.

The partners had fun plugging their niche practice in the release.

“‘I was quite shocked when the headline popped up on cnn.com,’ deadpanned lemon law attorney Craig Kimmel. ‘I thought my relationship with Bob was going well. There were no warning signs. Then I found out about Matt Damon, and turned to my good buddy Ben Affleck for advice.’”

The press release continues:

“Craig and Bob do offer their best wishes to Jimmy and Sarah. ‘Relationships are like cars; sometimes they go the distance, and sometimes they don’t. At least cars have a warranty and when they are no good, you have the lemon law and someone to go after,’ says Kimmel. ‘But, no doubt like our clients, we know that both of them will soon find themselves on the road to recovery.’”

A special thanks to ABAJournal.com for the tip.

News Release - Legal Media Matters joins forces with Olmstead & Associates

NEWS RELEASE

July 9, 2008

Geri L. Dreiling joins forces with Olmstead & Associates to help lawyers write, get published and enhance their expertise and credibility.

St. Louis – Olmstead & Associates and Legal Media Matters are pleased to announce that Geri L. Dreiling—legal writer, publicist and president of the public relations and multimedia writing firm Legal Media Matters—has joined forces with Olmstead & Associates as adjunct legal writer and publicist.

Dreiling’s clients and their cases have been covered by many national and regional media outlets, among them: The Associated Press; KTVI (Ch.2), St. Louis; Bloomberg News; The Des Moines Register; IP Law 360; The Kansas City Star; KMOV (Ch. 4), St. Louis; KMOX (1120 AM); KSHB (Ch. 41), Kansas City; KTVI (Ch. 2), St. Louis; The Miami Herald; Missouri Lawyers Weekly; The National Law Journal; Pensacola News Journal; St. Louis Business Journal; St. Louis Daily Record; and the St. Louis Post-Dispatch. 

Said John Olmstead, principal of Olmstead & Associates, “Geri will help our lawyer clients write, get published, and enhance their expertise and credibility.”

Dreiling added: “For over two decades, lawyers and law firms across the country have turned to Olmstead & Associates for practice management advice and consulting services. It is an honor to serve as an adjunct to such a highly regarded firm.”

About Geri L. Dreiling
Dreiling graduated from Wichita State University in 1989 and the Washington University School of Law, where she was an associate editor of the Washington University Law Quarterly, in 1992. After practicing law for several years, Dreiling worked as a legal and investigative journalist. Her award-winning articles have appeared in several publications, including the ABA Journal, Missouri Lawyers Weekly, The Riverfront Times, the National Catholic Reporter and St. Louis Magazine, as well as a 2005 anthology published by Chamberlain Brothers showcasing some of the best articles from the alternative press.

Dreiling is a member of the Missouri Bar, the Illinois State Bar Association, and the American Society of Journalists and Authors.

About Olmstead & Associates

Olmstead & Associates provides practice management, coaching, marketing, and technology consulting services. Their coaching program provides attorneys and staff with one-on-one coaching to help them get “unstuck” and move forward, reinventing both themselves and their law practices.  Life On Balance helps clients improve work-life balance and improve overall quality of work and life. Work-life coaching, consulting, and speaking services are provided. Founded in 1984, Olmstead & Associates serves clients across the United States ranging in size from 100 professionals to firms with solo practitioners.

For more information about Olmstead & Associates and its services, visit www.olmsteadassoc.com  and www.lifeonbalance.com or call (314) 241-5665.

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Media contact: Geri L. Dreiling
Legal Media Matters LLC
314.743.3851 or 314.520.3897
legalmediamatters@sbcglobal.net

The old adage “Write What You Know” holds true for lawyers

When a lawyer gets a great result, devises a winning strategy, tackles an old issue with a 21st-century twist or develops an approach that helps avoid a legal minefield, the client benefits.

A rainmaking lawyer will also recognize that those successes represent an opportunity to promote his or her practice. The attorney who uses the experience as inspiration for a guest article has a chance to attract additional clients, to grab the attention of lawyers with cases to refer and to improve the practice of law.

The work can be leveraged. If the author retains copyright to the content, the article can not only be featured in a print publication but can also serve as fresh content for the law firm’s Web site, be incorporated into a firm newsletter or be rolled into a continuing legal education handout.

In this blog entry we’ll explore the reasons lawyers should publish, where to find story ideas and how to go about getting items in print.