October 22, 2013 Comments (0) Publications

The Bond Buyer: Two Firms File Cases Against UBS Over Puerto Rico Closed Ended Funds

Two law firms have filed cases against UBS over losses on closed-end funds holding Puerto Rico municipal bonds.

On Tuesday, White Law Group filed an arbitration case with FINRA for a single investor claiming more than $450 million in losses. The firm claims UBS engaged in fraud, breach of fiduciary duty, negligence, and negligent supervision, according to a press release.

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