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Class Action Lawsuit regarding Non-Traditional Exchange Traded Funds against Ameriprise Financial Services and SII Investments filed by Halling & Cayo, S.C. and Hansen Reynolds Dickinson Crueger, LLC

August 26, 2014

MILWAUKEE--(BUSINESS WIRE)-- Halling & Cayo, S.C.:

Notice is hereby given that a class action lawsuit, case 14-cv-00966, captioned William Bourbonnaiset al. v. Ameriprise Financial Services, al. has been filed in the Eastern District of Wisconsin, Green Bay division by Attorney Sean M. Sweeney of Halling & Cayo with co-counsel of Charles J. Crueger and Erin K. Dickinson of HRDC.

The Class includes all retail investors, whose accounts were not approved for speculative investing, and who purchased non-traditional leveraged or inverse exchange-traded-funds with trading sessions of one day or less from the Defendants Ameriprise or SII Investments in which those investments were held for 21 days or more as an intermediate or long-term investment. There are also two sub-classes regarding those that worked with registered representative, Paul Renard. The Claims for relief include Violation of the Securities and Exchange Act of 1934 (10(b) Claim) on behalf of the Class, and Negligence, Wisconsin Uniform Securities Law (WUSL), and Wisconsinís Organized Crime Control Act (WOCCA) claims on behalf of the sub-Classes.

The Class period is defined as the time period beginning on the date established by the Courtís determination of any applicable statute of limitations, after consideration of any tolling and accrual issues, and ending on the date of entry of judgment. Absent any tolling or accrual issues, the Claims would apply to any Class or sub-Class member who purchased or held these investments beginning August 8, 2009 for the Federal 10(b) claims and the WUSL claims, and August 8, 2008 for the Negligence and WOCCA claims. It is possible that these time frames will be found to be different by the Court.

If you are a member of the class described above, you may, not later than October 26, 2014, move the Court to serve as lead plaintiff of the purported class, though you must meet certain legal requirements to do so. To be a member of the plaintiff class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the plaintiff class.

Halling & Cayo, S.C., Milwaukee

Atty. Sean M. Sweeney


Source: Halling & Cayo, S.C.

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