NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky is investigating potential claims on behalf of purchasers of The First Marblehead Corporation (“First Marblehead” or the “Company”) (NYSE: FMD) stock.
For more information, click here: http://zlk.9nl.com/first-marblehead-fmd/.
First Marblehead is currently being audited by the Internal Revenue Service in connect with the sale of a trust certificate. On August 15, 2013, First Marblehead announced that the Company expects to receive a Notice of Proposed Adjustment, pursuant to which the IRS would seek to disallow losses that generated tax refunds previously received by the Company, as well as require the Company to include in its tax returns any taxable income from the sale of the trust certificate. The Company further stated that the disallowance of the loss, coupled with the additional taxable income, would create a proposed adjustment estimated at approximately $300 million plus interest. Upon this news, shares of First Marblehead fell more than 36 percent.
If you own First Marblehead stock and wish to obtain additional information about the investigation and your legal rights please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/first-marblehead-fmd/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.