CASE NO. 20-03978
Jeff Misner and Karen Misner, as Trustees of the Jeff and Karen Misner Revocable Trust v. UBS Financial Services, Inc.
Erez Law represented Jeff and Karen Misner against UBS and recovered $1,342,118. The case stems from the sale by UBS to the Misners of its proprietary YES investment strategy. UBS promoted and marketed YES as a low-risk options overlay strategy that would generate additional income. In fact, YES was a high-risk, directional and aggressive iron condor strategy that failed. The award is significant because the arbitrators awarded the Misners their losses as well as prejudgment interest in the amount of $475,482. The panel also awarded all costs in the amount of $41,475 and attorney’s fees of $325,161. Moreover, the panel awarded punitive damages of $500,000. The venue of the case was Atlanta, Georgia.