The String Of UBS Losses Will Likely Continue In 2011
The string of losses that began nearly a year ago culminated with two huge awards in November and December totaling over $2.7 million. In the last two cases investors got everything they asked for in the way of compensatory damages. UBS Financial Services, Inc. just keeps getting hammered in arbitration cases revolving around its marketing and sale of structured notes issued by Lehman Brothers, as reported by Dan Jamieson with Investment News.
These cases are unique in that the success rate is much higher than the typical 43% success rate, per FINRA arbitration statistics between 2006 and 2010, with the Claimants winning seven out of eight (87.5%). The “principal protected notes” (PPN) were marketed as safe investments and investors were promised they would always get back there principal, according to allegations by New Hampshire regulatory officials. Many of the $1 billion worth of Lehman notes were sold after the demise of Bear Stearns and up until the collapse of Lehman, amidst its attempts to hide its debt levels and risks from investors in their quarterly reports.
If you have suffered losses from investing in Lehman Brothers 100% Principal Protected Notes, please contact our securities law firm for a confidential consultation at 1-800-259-9010.