Hi Mr Tan,
Morgan Stanley has just informed investors that another two of Pinnacle Notes, Series 6 & 7 have failed due to mandatory redemption (see attached).
For those who still hold hope they can hang on till maturity dates and they may still get back their principle if nothing else fails, this is a wake-up call and they should just join the legal action organized by the US lawyer. Please help to post this in you Blog.
The Town Council who invested in this “created-to-fail” product is also looking at $3 million dollar loss as reported in this 2008 News report. Who is accountable?
http://www.channelnewsasia.com/stories/singaporelocalnews/view/390407/1/.html
Benedict
My comment
Investors who wish to join the legal action to be held in US courts by a reputable US legal firm working on a contigency fee basis can send an e-mail to tkla.km@gmail.com. The lawyer will take the fee and expenses only on successful outcome. If the lawyer is unsuccessful, they will bear the expenses and the investors will not need to pay any fee or expenses.
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