UBS loss again in FINRA arbitration over “Principal Protect Notes” again…. (7th so far)
In the latest of an increasing line of cases lost by UBS a FINRA arbitration panel awarded $2.2 million dollars for losses in funds known as “principal protected” securities. These investment vehicles were originally created by Lehman Brothers and are basically a combination of derivatives and fixed income or equities that are ‘supposed’ to provide fixed income and an upside of growth in equities. Sounds like the best of both worlds, as it turns out it is in the world of darkness, not light. Many low-risk investors (retirees mostly in Boca Raton and South Florida) sought these investments from their brokers here in Fort Lauderdale and Palm Beach. Now, again, FINRA awarded money against stock brokers who marketed these investments for preservation of capital with a good yield and equity growth potential. If you believe your investments contain these products contact a South Florida Securities Fraud lawyer for a review of your portfolio. The telltale signs are entries in your monthly statements indicating that you own Lehman Brother products listed as “LB 100% PPN”. For a list of other south Florida securities fraud lawyers in Fort Lauderdale and Palm Beach contact attorney Ralph Behr for a list of other lawyers also practicing in the field of securities fraud. Start with a list of lawyers practicing in this area and begin the process of finding one that is right for your needs.