CASE NO. 20-04077
Jacques Andre Soileau et al. v UBS Financial Services, Inc.
Erez Law represented Jacques Andre and Beth Soileau against UBS and recovered $976,155. The case stems from the sale by UBS to the Soileaus 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 Soileaus their losses as well as prejudgment interest in the amount of $687,644. The panel also awarded all costs in the amount of $58,644 and attorney’s fees of $229,134. The case was hearing New Orleans, LA and lasted 8 days.