"Brokerage firms that did not fully and accurately describe the material risks and benefits of the ETRACS ETNs or engaged in other wrongdoing regarding UBS ETRACS ETNs may be liable for investors’ losses."
MIAMI, Fla. (PRWEB) April 06, 2020
The national securities law firm, Levin Law, P.A. (“Levin Law”) (http://www.levinlawpa.com) announced today that it is investigating UBS Financial Services Inc. (“UBS”) and other brokerage firms regarding losses stemming from the recommendation and sale of certain UBS ETRACS exchange-traded notes (“ETNs”) that are supposed to track different market indexes. The ticket symbols of the ETRACS ETNs that might have been impacted include: LBDC, MORL, MRRL, LRET, MLPQ, HOML, MLPZ, LMLP, WTID, HDLV, SMHD, DVHL, CEFL, CEFZ, BDCL.
Levin Law is investigating whether brokerage firms that sold UBS ETRACS ETNs fully and accurately disclosed all material risks of the UBS ETRACS ETNs prior to recommending and selling such investments to their customers. Brokerage firms that did not fully and accurately describe the material risks and benefits of the ETRACS ETNs or engaged in other wrongdoing regarding UBS ETRACS ETNs may be liable for investors’ losses.
UBS ETRACS ETNs are risky and complex investments. ETRACS ETNs are senior, unsecured, unsubordinated debt securities that are designed to track the total return of a specific market index. UBS ETRACS ETNs are risky and leveraged products that can cause massive investment losses and are unsuitable for many investors, including risk-averse retirees, investors seeking stable, fixed income returns, and investors seeking to preserve their principal.
Due in part to the spread of COVID-19, the global securities markets have dropped precipitously. As a result, UBS has instituted mandatory redemptions of certain ETRACS ETNs and has frozen the trading of other ETRACS ETNs. Many ETRACS ETNs investors have lost a substantial percentage of the money that they invested in ETRACS ETNs.
The UBS ETRACS ETNs that may have been impacted include, but are not limited to:
- BDCL 2x Leveraged Long Wells Fargo Business Development Company Index
- BDCY 2x Leveraged Long Wells Fargo Business Development Company Index
- CEFL 2x Leveraged Closed-End Fund
- CEFZ 2x Leveraged Closed-End Fund
- DVHL 2x Leveraged Diversified High Income
- DVYL 2x Leveraged Dow Jones Select Dividend Index
- HDLB 2x Leveraged U.S. High Dividend Low Volatility
- HOML 2x Leveraged ISE Exclusively Homebuilders
- LBDC 2x Leveraged Long Wells Fargo Business Development Company
- LMLB 2x Leveraged Wells Fargo MLP Ex-Energy
- LRET 2x Leveraged MSCI US REIT Index
- MLPQ 2x Monthly Leveraged Alerian MLP Infrastructure Index
- MLPZ 2x Monthly Leveraged S&P MLP Index
- MORL 2x Leveraged Mortgage REIT
- MRRL 2x Leveraged Mortgage REIT
- SDYL 2x Leveraged S&P Dividend
- SMHB 2x Leveraged US Small Cap High Dividend
- SMHD 2x Leveraged US Small Cap High Dividend
- WTID 3x Inverse Crude ETN linked to the Bloomberg WTI Crude Oil sub index
If your financial advisor, broker, or other investment professional recommended that you purchase UBS ETRACS ETNs and you have lost money in those investments, you may be able to recover your losses through a Financial Industry Regulatory Authority (“FINRA”) arbitration claim.
If you have information about the sales practices of any brokerage firm that recommended or sold UBS ETRACS ETNs or believe that you have suffered losses in UBS ETRACS ETNs, please contact Levin Law managing partner, Brian Levin, at 305-402-9050, email@example.com, or visit Levin Law’s website, https://www.levinlawpa.com. For more information about pursuing an arbitration claim for your UBS ETRACS losses, please visit https://www.levinlawpa.com/lp-ubs-etrac/.
About Levin Law: Levin Law is a premier national securities and class action law firm with significant experience. Brian Levin, Levin Law’s founding attorney, has helped recover approximately $100,000,000 through securities arbitration and litigation for individual and institutional investors throughout the country and the rest of the world. Levin Law represents retirees, individual investors, high-net-worth investors, ultra-high-net-worth investors, institutions, family offices, trusts, publicly held companies, and others. Levin Law is based in Miami, has additional offices in Michigan and California, and practices nationwide and represents investors throughout the world.
Levin Law, P.A.
Brian Levin, Esq.