August 23, 2019 Comments (0) Blog

UBS Clients win $4.4 Million for Puerto Rico Bond Losses

UBS Puerto Rico bonds losses, featured by Top Securities Fraud Attorneys, The White Law Group

Another FINRA Award involving UBS Puerto Rico Bonds

According to  award posted this week, a group of investors who bought Puerto Rico bonds and closed-end funds reportedly won a $4.4 million arbitration claim against UBS Financial Services Inc. in Puerto Rico.

The group, which included three investors and related trusts and businesses, were initially seeking $7.3 million in damages, according to the award. The Financial Industry Regulatory Inc. three-person panel, reportedly awarded the clients $4.25 million in compensatory damages, plus interest, and $170,000 in costs.

According to the FINRA award, the investors alleged that UBS had violated Puerto Rico’s securities laws and FINRA rules.

Through the end of 2012, UBS sold more than $10 billion of in-house bonds invested in Puerto Rico municipal debt, but since the country filed for bankruptcy in May 2017, the firm has been hit with millions of dollars in arbitration claims.

Free Consultation with a Securities Attorney

This information is publicly available on FINRA’s website and provided to you by The White Law Group. If you are concerned about your investments please call the offices at 888-637-5510 for a free consultation.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin Tennessee.

For more information on The White Law Group, visit www.whitesecuritieslaw.com.

 

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