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Zamansky LLC’s $3.1 Million Victory in UBS-Puerto Rico Bond Fund Case: Largest Arbitration Award of 2015

February 24, 2016 Blog

As we reported last September, Zamansky LLC attorneys Jacob H. Zamansky and Edward H. Glenn Jr. secured a $3.1 million arbitration award on behalf of investors in a case against UBS. The case – an arbitration before the Financial Industry Regulatory Authority (FINRA) – arose out of losses that our clients suffered due to unsuitable investments and misrepresentations made in connection with the sale of UBS-Puerto Rico bond funds.

At the time, we reported that this was the largest award against UBS or any brokerage firm relating to the Puerto Rico bond market collapse of 2013. Now, the Securities Arbitration Commentator (SAC) – the leading subscription service for FINRA arbitrations – has reported that our firm’s victory against UBS was the largest award against any broker-dealer in any FINRA arbitration in 2015.

According to the Securities Arbitration Commentator:

“[T]he six [broker-dealers] in order of Award frequency, are: Wells Fargo Advisors (120), Morgan Stanley (119), UBS (96), Merrill Lynch (71), Ameriprise Financial (50) and TD Ameritrade (40).

“The largest amount assessed against any of the six [broker-dealers] in [our] survey was $2.93 million against UBS in Lopez Del Valle v. UBS Financial, FINRA ID #13-03784 (San Juan, PR, 8/31/15).”

You can read the full FINRA arbitration decision here.

Note that while the Securities Arbitration Commentator lists the award amount at $2.93 million, with interest, costs and fees, the total award was actually approximately $3.1 million.

Zamansky LLC Continues to Represent Investors Who Suffered Losses in Puerto Rico Bond Funds

While securing this record award is a significant achievement, attorneys Zamansky and Glenn Jr. are nowhere near done representing investors who lost money in Puerto Rico bond funds. In fact, Zamansky LLC is currently representing hundreds of investors who are facing situations similar to those experienced by the firm’s clients who received the record award. If you lost money in a Puerto Rico bond fund, we encourage you to contact us immediately to find out if we may be able to help you recover your losses.

Are You Entitled to Compensation for Puerto Rico Bond Fund Losses?

As an investor, you are told to expect losses from time to time. However, these losses should be supported by a sound investment strategy that is based on your personal risk tolerance and financial needs. Except in unusual circumstances, if your investments are being properly managed, you generally should not suffer sudden and unexpected losses.

Unfortunately, investors do suffer sudden and unexpected losses, and in many cases their brokerage firms and investment advisors are to blame. This is what happened in our clients’ Puerto Rico bond fund case against UBS. If your investment losses are the result of any of the following, we may be able to help you secure financial compensation:

  • Breach of fiduciary duty
  • Misrepresentations and omissions
  • Over-concentration of investments
  • Unauthorized transactions
  • Unsuitable investments

Learn more about these and other common causes of action for aggrieved investors.

Contact the Bond Fund Loss Attorneys at Zamansky LLC for a Free Consultation Today

Zamansky LLC is a leading securities fraud law firm that represents individuals who have suffered losses in bond funds and other investments nationwide. If you suffered sudden and unexpected losses after the Puerto Rico bond market collapse or in any other situation, we invite you to schedule a free consultation with a FINRA arbitration attorney. To learn about your legal rights after suffering investment losses, call (212) 742-1414 or contact us online today.