New York, New York (PRWEB) August 08, 2013
Zamansky LLC announces that brokerage customers of UBS Financial Services Inc. ("UBS") who purchased Lehman structured products, called “100% Principal Protected Notes”, “Auto-Callable Notes”, “Return Optimization Notes” or other name, have the right to seek a higher payout by opting out of the class action settlement.
On August 9, 2013, a preliminary approval of a settlement was filed in the investor class action for these Lehman structured products. The case is In re Lehman Brothers Debt/Equity Sec. Lit., U.S. District Court, Southern District of New York, 2008-CV-05523. Under the proposed settlement, investors would recover only a small percentage of their losses.
Investors should be aware that they have the legal right to opt out of the settlement, and to file their own FINRA arbitration seeking a higher recovery, according to securities attorney Jacob Zamansky. On December 5, 2009, the Wall Street Journal reported that Zamansky won $225,000 in the first case for an investor against UBS, Patricia M. Flanagan v. UBS Financial Services Inc., FINRA 08-04152.
Zamansky also successfully represented the former president of the Philadelphia 76ers Pat Croce. As reported by Rueters, on June 13, 2011, an arbitration panel found UBS liable for $2 million in damages plus interest. The case was FINRA No. 2010-00361.
According to Zamansky, UBS brokerage customers who invested in Lehman structured products should contact our law firm to discuss their legal rights, and whether they should seek a higher recovery by opting out and filing an arbitration. If an investor does not file forms to opt out, then the investor is bound to any settlement and cannot pursue his or her own claims, Zamansky states. In the two FINRA cases we won, the investors were very successful in pursuing their own cases, according to Zamansky.
What Investors Can Do
If you were a UBS brokerage customer who allegedly suffered a loss from a Lehman structured product, and would like to discuss whether you should opt out and pursue your own arbitration, you may, without obligation or cost to you, email jake(at)zamansky(dot)com or call the law firm at (212) 742-1414.
Zamansky will also assist clients in completing and filing the opt out forms at no cost.
About Zamansky LLC
Zamansky LLC is a leading investment fraud law firm specializing in securities arbitration and securities class actions. Our stock fraud attorneys represent both individual and institutional investors. Our stockbroker fraud practice is nationally recognized for our ability to aggressively prosecute cases and recover losses.
50 Broadway - 32nd Floor
New York, NY 10004
Jake Zamansky, 212-742-1414