Babbitt, Johnson, Osborne & Le Clainche, P.A., Files Notice On Citigroup-Falcon Class Action.

WEST PALM BEACH, Fla. -- Babbitt, Johnson, Osborne & Le Clainche, P.A., of West Palm Beach, Fla., announces that Robert Zeff TTEE FBO A. Robert Zeff Revocable Living Trust U/A/D 10-15-97 on behalf of the Trust and all others similarly situated has filed a class action lawsuit against Citigroup Alternative Investments LLC, Citigroup, Inc. and Falcon Strategies Two B LLC.

The suit was filed on April 4, 2008 in the United States District Court Southern District of Florida by Babbitt, Johnson, Osborne & Le Clainche, P.A. and was assigned case number 08-80346. The presiding Judge is William J. Zloch.

The Complaint alleges that Citigroup Alternative Investments LLC, Citigroup, Inc. and Falcon Strategies Two B LLC violated laws pertaining to fraud, negligent misrepresentation, 12(A)(2) of the 1933 Securities Act and Florida Blue Sky Laws in the sale and management of the Falcon Strategies Two B Fund.

Specifically, the Complaint alleges that the Falcon Strategies Two B was marketed to investors as an investment option with capital preservation principals, low volatility and as an alternative to other income providing investments. However, despite these assertions, the Complaint alleges that the Fund managers implemented high-risk investment strategies that were counter to the profile portrayed to investors. These high-risk investment strategies resulted in substantial losses to the investors. The Complaint alleges that anyone who purchased Falcon Strategies Two B between September 30, 2005, and January 8, 2008, is a member of the putative class and has a potential claim against the Defendants.

Also, any investor who is a member of the class has sixty (60) days from the date of this Notice to petition the court to act as lead Plaintiff in the litigation.

The Plaintiff will be filing an Amended Complaint in the near future adding claims that the Defendants also violated 10(b)(5) of the Securities Exchanges Act. If you have any questions regarding the above suit, please contact:

Joseph A. Osborne
Babbitt, Johnson, Osborne & Le Clainche, P.A.
1450 Centrepark Boulevard, Suite 100
West Palm Beach, FL 33401
561-684-2500