Puerto Rico Investors v. UBS Financial Services, Inc. and UBS Financial Services of Puerto Rico, Inc.

Erez Law represented four families and a corporation owned by the four families that sustained significant losses primarily in Puerto Rico bonds and in UBS proprietary closed-end funds to a lesser extent. The final hearing lasted 13 days. Ramon “Cholo” Almonte was the UBS financial advisor. The Claimants alleged that UBS recommended an unsuitable and over-concentrated investment in high risk Puerto Rico bonds and funds. The FINRA panel awarded $4,2000,000 as well as costs in an amount of no less than $85,847. The Award is significant in that it represents nearly 100% of the investors’ capital losses and is significantly in excess of the net-out-pocket losses.

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