Coral Gables, Florida (Vocus/PRWEB) March 04, 2011
The Securities Law Firm of Tramont Guerra & Nunez, P.A. (TGN) announces an investigation of potential claims on behalf of investors who experienced investment losses in Puerto Rico Conservation Trust Fund Secured Notes due 2034 (“the Notes”). The Notes Offering on March 31, 2004 for $100 million were underwritten by R-G Investments Corporation, UBS Financial Services, Inc. of Puerto Rico, Santander Securities and Popular Securities, Inc. The Notes issued were used by the Puerto Rico Conservation Trust Fund to back a concurrent offering to the public of secured notes. The Puerto Rican Conservation Trust serves its purpose through the acquisition, active management and development of lands possessing great ecological, aesthetic or historical value in Puerto Rico. Recent downgrades in the credit quality and interest paying ability of the issuers has resulted in significant losses for investors. For individuals who invested in Puerto Rico Conservation Trust Fund Secured Notes, the recent developments represent a significant loss in income and investment. The Financial Industry Regulatory Authority, (FINRA) is a self regulating organization with sales practice rules and regulations that govern the securities industry’s conduct and safeguard the investing public.
According to TGN, many brokers recommended the Notes to Puerto Rican residents because of favorable tax treatment for a security considered suitable for conservative investors with current income objectives. Full-service brokerage firms are obligated to give, and investors are entitled to rely upon brokerage firms for, competent, suitable investment advice for investments made in customer accounts. Brokerage firms are required to supervise the activities in brokerage accounts. Losses may be attributed to the failure to adequately supervise the stockbroker and the brokerage account. A recommendation of unsuitable investments is a cause of action that may be available to investors against their full-service brokerage firm in an individual securities arbitration claim filed with FINRA.
The Securities Law Firm of Tramont Guerra & Nunez, PA, is a nationally recognized, bilingual securities law firm. To request a confidential consultation from a TGN attorney to determine whether you have a viable individual securities arbitration claim for investment losses that exceed $250,000 from a full service brokerage account, contact us on our website. To speak directly with an attorney, call (800) 578-0137 and ask for David Chacin, Esquire.
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