NEW YORK, Oct. 8 /PRNewswire/ -- The Securities Law Firm of Klayman & Toskes, P.A., www.nasd-law.com , announced today that a class action lawsuit, Case No. 08-cv-08008, has been filed against UBS (NYSE: UBS) and other Defendants on behalf of purchasers of Fannie Mae Preferred Stock, Series T (NYSE: FNM-PT) ('Fannie Preferred Stock T'). Potential class members who purchased Fannie Preferred Stock T from UBS should consider whether they should participate in the class action or file an individual securities arbitration claim.

According to the Complaint, the Defendants, including UBS, distributed an Offering Circular that contained materially false and misleading information. The Offering Circular was issued in connection with the sale of about 80 million shares, or $2 billion, of Fannie Preferred Stock T. It is alleged that the Offering Circular misrepresented Fannie Mae's capital position by postponing a series of asset write-offs that were mandated under Generally Accepted Accounting Principles ('GAAP'). Had the entirety of Fannie Mae's capital deficiencies been disclosed by UBS and the other Defendants, Fannie Mae's ability to raise the capital would have been significantly deterred. As a result of these and other materially false and misleading statements and omissions, the Complaint alleges that UBS and the other Defendants violated Section 12(a)(2) of the Securities Act of 1933 as well as Sections 10(b) and 20(a) of the Exchange Act.

Klayman & Toskes reminds investors of the benefits of filing an individual arbitration claim, as opposed to participating in a class action lawsuit. By participating in a class action lawsuit, an investor will most likely recover only pennies on the dollar. However, if one has experienced significant losses in Fannie Preferred Stock T, it may be more beneficial for them to file an individual securities arbitration claim. In 2003, Klayman & Toskes conducted a detailed study of securities arbitration versus class action. The study concluded that investors who file a securities arbitration claim traditionally obtain an overall higher rate of recovery as opposed to participating in a class action lawsuit. To view the full results of the comparison, please visit our web-site: http://www.nasd-law.com/documents/classvr.pdf

The attorneys at the Law Firm of Klayman & Toskes are dedicated to aggressively pursuing claims on behalf of investors who have suffered investment losses. Klayman & Toskes, an experienced, qualified and nationally recognized securities litigation law firm, practices exclusively in the field of securities arbitration and litigation. It continues its representation of investors throughout the world in securities arbitration and litigation matters against major Wall Street brokerage firms.

If you have experienced substantial losses in Fannie Preferred Stock T with UBS and you wish to discuss your legal options at no obligation, please contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956, or visit us on the web at http://www.nasd-law.com .

SOURCE The Securities Law Firm of Klayman & Toskes, P.A.