Zamansky LLC Obtiene un Record de $3.1 Millones en Arbitraje por Fondos de Bonos Cerrados de UBS-Puerto Rico
On August 28, 2015, investors represented by Zamansky LLC and attorneys Jacob H. Zamansky and Edward H. Glenn Jr. received compensation of $ 3.1 million for losses incurred in connection with closed bond funds and municipal bonds, investments managed by UBS-Puerto Rico. The award represents the largest to date against UBS or any other brokerage firm arising from the 2013 Puerto Rico bond market crash.
As the Wall Street Journal has reported, this case and any other like it could be just the tip of the iceberg in relation to investors wanting to recoup the losses suffered as a result of mismanagement of their funds during the 2013 crash. At this time, UBS and Other brokerage firms are facing hundreds of claims and many more investors are likely to come forward due to the repercussions of the significant wins over FINRA. If you have suffered investment losses and believe that you can sue for compensation, we invite you to immediately contact one of our attorneys.
Affected investors seek compensation from UBS-Puerto Rico for fraud, impropriety and other felonies .
On December 31, 2013 Zamansky LLC filed lawsuits against UBS-Puerto Rico on behalf of two individual investors and a related company that invested in proprietary bond funds and municipal bonds through UBS-Puerto Rico. The arbitrary claims also include allegations that UBS misused our clients’ investments as collateral for line of credit loans. Our clients have suffered substantial losses and sought to be compensated by UBS-Puerto Rico, their claims were based on:
- Breach of contract
- Breach of obligations
- Failure to supervise financial advisers
- Excessive concentration
The arbitration filing also includes other allegations of inadequacy.
After a year and a half of constant effort, attorneys Zamansky and Glenn successfully obtained the compensation that these plaintiff investors deserved. The arbitration panel of the Financial Industry Regulatory Authority (FINRA) presided over the case and with a vote of 2 to 1 decreed that Zamansky’s clients would be benefited with approximately $ 2.4 million in direct damages, plus interest, costs and fees, making a total of approximately $ 3.1 million in compensation.
In a statement published in “Wall Street Journal” and “Law360” lawyer Jacob Zamansky stated “my clients are satisfied with the FINRA arbitration award and believe that justice was served”
Did you suffer a loss with UBS or Puerto Rico bond investments? Contact a FINRA arbitration attorney to find out if you have a case.
Located in the heart of Wall Street in New York City, Zamansky LLC represents investors who have suffered losses in Puerto Rico and throughout the United States. If you invested with UBS or any other brokerage firm in Puerto Rico and suffered significant investment losses, you have the right to receive financial compensation. To find out if you have a cause call Zamansky LLC at (212) 742-1414 or contact us online to schedule a free consultation today.