UBS Puerto Rico Bond Losses
Did you lose money investing in a bond fund or bonds by UBS in Puerto Rico or elsewhere? Blum Law Group is investigating both the sales practices of UBS Puerto Rico advisors and the bonds and bond funds. The bond funds include the Puerto Rico Investors Tax-Free Fund, Inc., the Puerto Rico Fixed Income Funds, Power and Electric Bonds, Franklin Double Tax-Free Income A, Oppenheimer Rochester VA Municipal A, Commonwealth of Puerto Rico Bonds, and others.
If you suffered financial losses from the sale of leveraged bonds by UBS Puerto Rico, contact Blum Law Group today by calling at 1-877-STOCK LAW (1-877-786-2552) or email us to set up a free consultation to discuss your legal options.UBS Puerto Rico Bond Misrepresentations
UBS Financial Services, Inc. of Puerto Rico has 5 branches and over 100 financial advisors. In 2013, UBS Puerto Rico reported significant financial losses across multiple, proprietary closed-end bond funds. It is alleged that UBS Puerto Rico made serious misrepresentations and material omissions about the liquidity and pricing of non-exchange traded, closed-end bonds. Upon information and belief UBS of Puerto Rico purchased millions of dollars of closed-end funds to promote the appearance of a stable market and UBS Puerto Rico did not disclose their actions and inform investors that the prices and liquidity were artificially high.
UBS financial advisors often sold these leveraged bonds to retirees and conservative investors. Leveraged bonds are a very risky, volatile investment and are often not recommended to conservative investors. However, UBS Puerto Rico frequently sold to conservative investors, and even encouraged retirees to borrow money in order to purchase these leveraged bonds.UBS Puerto Rico Settlement with United States SEC
The United State Securities and Exchange Commission (SEC) issued a cease and desist order against UBS Puerto Rico on May 1, 2013. The SEC alleged that UBS Puerto Rico sold mispriced funds to investors. UBS Puerto Rico agreed to pay $26 million in disgorgement and fines to settle the charges made against them by the SEC. However, this settlement does not include any recovery for individual investors who might have been taken advantage of by UBS Puerto Rico Bond financial advisors.What You Can Do to Recover Your Investment Losses
If you purchased closed-end funds or bonds from UBS Puerto Rico, you might have a claim against UBS Financial Services. You can have your financial accounts reviewed by our attorneys who can advise you on whether you have a legal claim against UBS Puerto Rico for unethical behavior. The case evaluation is FREE!! MOREOVER, IF YOU HAVE A CASE, WE HANDLE THEM ON A CONTINGECNY FEE SO IF WE DO NOT RECOVER MONEY FOR YOU, YOU WILL NOT PAY US AN ATTORNEYS FEE.
Blum Law Group is a securities law firm that has helped investors in Puerto Rico, and elsewhere recover millions of dollars for their investment losses. If you suffered UBS Puerto Rico Bond Losses, call us today at 1-877-STOCK LAW (1-877-786-2552) or email us to set up a free consultation to discuss your financial situation and legal rights.