New York, New York (PRWEB) May 29, 2013
Zamansky & Associates LLC has filed another FINRA arbitration on behalf of a group of California investors who invested in the UBS Willow Fund LLC (“UBS Willow Fund”). The case is against UBS Financial Services, Inc. and is FINRA No. TN 1300565.
The Statement of Claim in the arbitration alleges that the UBS Willow Fund was a purported distressed debt fund that was recommended and sold by UBS Financial Services to its brokerage customers. The Statement of Claim alleges that the UBS Willow Fund materially deviated from its disclosed strategy of investing in distressed debt, and instead speculated in foreign sovereign debt credit default swaps (CDS). The Statement of Claim alleges that these foreign sovereign CDS carried risks that were far greater in magnitude and different in nature than those disclosed to investors. The Statement of Claim also alleges that investors were never made aware of the change in fundamental strategy, and that these CDS eventually sank the UBS Willow Fund causing it to suffer 70% or more losses. The investor asserts claims of unsuitability, breach of fiduciary duty and failure to properly supervise and seeks damages for the losses incurred.
The problems associated with the UBS Willow Fund are discussed in a March 30, 2013 article entitled "If A Fund Turns On A Dime, Watch Your Dollars, " by Gretchen Morgenson, New York Times.
What UBS Willow Fund Investors Can Do
If you invested in the UBS Willow Fund, and would like to have your brokerage accounts reviewed or discuss your legal rights, you may, without obligation or cost to you, email jake(at)zamansky(dot)com or call the law firm at (212) 742-1414.
About Zamansky & Associates LLC
Zamansky & Associates LLC is one of the leading law firms specializing in securities fraud, FINRA arbitration and class action litigation. Our FINRA attorneys represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover losses.
Zamansky & Associates, LLC
50 Broadway - 32nd Floor
New York, NY 10004
Jake Zamansky, 212-742-1414