Goodman & Nekvasil Files Lehman 'Principal Protected' Notes Claim Against UBS
Goodman & Nekvasil Law Firm files Multi-Million Dollar Arbitration Claim Against UBS on behalf of investors who purchased Lehman "Principal Protected" Notes sold by UBS
Clearwater, FL (PRWEB) May 22, 2009 -- UBS sold approximately $1 Billion of Lehman Structured Notes in the United States. Many of these "Structured Notes" were called "Principal Protected Notes." Many of these "Principal Protected Notes" were sold as safe, conservative investments that provide income. According to Goodman & Nekvasil, P.A., the ugly reality is that these investments were high-risk products secured only by a promise of Lehman Brother Holdings Inc. to repay the principal.
Goodman & Nekvasil, P.A. recently filed a multi-million dollar claim against UBS Financial Services Inc. on behalf of victimized investors. The case number was unavailable as of press time. The claim alleges that the risks of this investment were not disclosed, that these notes were improperly sold as safe, conservative investments, that UBS misled its sales force concerning the safety of these "Principal Protected Notes," and that UBS gave additional financial incentives to its brokers to sell these notes.
The claim alleges that as Lehman's financial situation deteriorated, UBS did not warn its customers who purchased these Lehman "Principal Protection Notes." Instead, UBS continued selling these notes, pocketing significant underwriter fees.
Other major brokerage firms, including Merrill Lynch, Barclays, and Wachovia, also sold Principal Protected Notes in recent years. If your financial advisor recommended the purchase of a Lehman Brothers Structured Note, a "Principal Protected Note", or any structured product that failed, the Clearwater, Florida law firm of Goodman & Nekvasil, P.A., would like to hear from you.
In the past 17 years, Goodman & Nekvasil, P.A. has represented thousands of investors nationwide and recovered more then $150 Million through negotiation, mediation, arbitration, and litigation.
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