New York, NY (PRWEB) September 30, 2013
Zamansky LLC announces that brokerage customers of UBS Financial Services Inc. who purchased Lehman structured products, called “100% Principal Protected Notes”, “Auto-Callable Notes”, and “Return Optimization Notes” have until November 19, 2013 to opt out of the class action settlement.
On January 23, 2013, Judge Kaplan issued an order which certified 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. There will be notice packets sent out to investors by October 14, 2013, and opt outs permitted until November 19, 2013.
According to investment fraud attorney Jake Zamansky, investors have the right to opt out of the class action settlement which awards them only a small percentage of their losses, to pursue a larger recovery through FINRA arbitration. Any investor who wishes to discuss whether they should opt out of the settlement to pursue their own case should contact our firm, he says. It makes no difference whether an investor is large or small, Zamansky states, as to whether an investors will benefit from filing their own individual FINRA arbitration.
Zamansky LLC successfully represented former president of the Philadelphia 76ers Pat Croce. As reported by Reuters, on June 13, 2011, an arbitration panel found UBS liable for $2 million in damages plus interest. The case was FINRA No. 2010-00361.
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.
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