Stock fraud lawyers are seeking investors who require representation regarding omissions and misrepresentations of the safety and nature of bonds connected with American Airlines. AMR Corporation, the American Airlines parent company, recently filed for bankruptcy, and many individuals who invested in certain bonds have suffered substantial losses as a result.
In some cases, it’s possible that investors were told that their investments were “safe” because they were “municipal” bonds. Traditional municipal bonds are guaranteed by a municipality and carry the full faith and credit of that municipality. However, these investments were not traditional municipal bonds and were linked to American Airlines’ financial health.
The following bonds are listed in AMR Corporation’s bankruptcy petition’s schedule of creditors:
- Tulsa Municipal Airport Trust Revenue Bonds
- Tulsa Municipal Airport Trust Revenue Bonds Refunding Series
- Puerto Rico Industrial, Medical, Higher Education and Environmental Pollution Control Facilities Financing Authority Special Facility Revenue Bonds
- Puerto Rico Ports Authority Special Facilities Revenue Bonds
- Alliance Airport Authority Inc. Special Facilities Revenue Bonds
- Chicago O’Hare International Airport Special Facility Revenue Refunding Bonds
- Dallas-Fort Worth International Airport Facility Improvement Corporation American Airlines Revenue Refunding Bonds
- Dallas-Fort Worth International Airport Facility Improvement Corporation American Airlines Inc. Revenue Bonds
- New Jersey Economic Development Authority Economic Development Bonds
- New York City Industrial Development Agency Special Facility Revenue Bonds
- Regional Airports Improvement Corporation Facilities Sublease Revenue Bonds
Whether the bankruptcy filing of AMR Corporation was foreseeable holds no bearing as to the case of whether or not investors were misled about the safety and nature of these investments. If your broker or adviser told you these investments were “safe” and you suffered losses as a result, you may have a valid securities arbitration claim. To find out more about your legal rights and options, contact an investment attorney at The Law Office of Christopher J. Gray at (866) 966-9598 for a no-cost, confidential consultation.