National Investment Fraud Lawyers

¿Perdió en bonos y fondos de Puerto Rico?

CASE NO. 10-02738 (2012 WL 188971)

Posted on Wednesday, July 1st, 2020 at 3:13 pm    

The Firm obtained an award against GMS Group, LLC in the amount of $69,865.93, for an investor who suffered a principal loss of $55,231 in Main Street Natural Gas Ser 2008A Proj Rev bonds. The award represented 100% of the investor’s principal loss ($55,231) plus the interest payments the investor would have received from the Main Street bonds if they had not defaulted. The Main Street bonds were closely linked to to the credit risk of Lehman Brothers. The FINRA arbitrator found that the brokerage firm was liable for breach of fiduciary duty, negligence, and breach of contract for failing to disclose the extent to which the investor would be exposed to the credit risk of Lehman Brothers.