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National Investment Fraud Lawyers

¿Perdió en bonos y fondos de Puerto Rico?

CASE NO. 15-03264

Posted on Wednesday, July 1st, 2020 at 3:03 pm    

Jose Pastrana v. UBS Financial Services, Inc. and UBS Financial Services of Puerto Rico, Inc. Erez Law represented an investor that sustained significant losses primarily in proprietary UBS closed-end funds invested in Puerto Rico bonds. The financial advisor was Alexandra Amador who had herself sued UBS for misleading her in regards to the same funds. The Claimant alleged that UBS recommended an unsuitable and over-concentrated investment in high risk Puerto Rico funds. The FINRA panel awarded compensatory damages in the amount of $435,623, costs of $26,936, attorney’s fees of $102,000 and rescission of the current illiquid fund holdings. The Award is significant in that it represents nearly 100% of the investors’ capital losses, plus costs, attorney’s fees and rescission.