Zamansky LLC is Engaged by Investors Nationwide to Lead a Substantial Challenge Against UBS's Yield Enhancement Strategy Program
New York financial services arbitration and litigation firm Zamansky LLC has been engaged by 15 investors across the United States to recover losses resulting from the UBS Yield Enhancement Strategy (YES) program. The claims allege that UBS advisors misrepresented the YES program and made unsuitable investment recommendations.
NEW YORK, May 16, 2019 /PRNewswire-PRWeb/ -- Zamansky, LLC, a New York law firm specializing in financial services arbitration and litigation, is filing arbitration claims on behalf of 15 investors who have experienced significant losses under the UBS Yield Enhancement Strategy trading program. Represented by founding partner Jake Zamansky and his team, the firm is currently pursuing claims in excess of $50 million with the Financial Industry Regulatory Authority. The initial arbitration hearings are expected to take place in late 2019 or early 2020, according to Attorney Zamansky.
According to court documents, UBS advertised its Yield Enhancement Strategy, or YES trading program, as a safe and low-risk option for conservative investors seeking consistent returns on their risk-averse portfolios. The UBS Yield Enhancement Strategy program required that investors commit a certain minimum amount of their portfolio, dubbed a "mandate," in order to enter into the program. Most clients were instructed to set aside roughly $3 million for the program, though some clients committed as much as $50 million to the YES program, court documents state. The funds were managed by a UBS investment group known as "The YES Group," and investors were charged a 1.75 percent fee of the "mandate amount" to participate in the program.
According to court documents, YES investors were never told the extent of the potential downside during periods of high volatility and were not made aware that the YES strategy was highly leveraged. As the market took a volatile turn in December 2018, investors lost nearly 20 percent of their investment, with aggregate losses amounting to at least $1 billion.
Zamansky alleges that UBS made unsuitable investment recommendations and misrepresented the risks and benefits of the YES strategy. "It is our contention that UBS failed to adequately disclose the risks involved with this investment strategy," says Zamansky. "The UBS Yield Enhancement Strategy program is a complex and opaque four-legged options trading strategy conducted by a sophisticated trading group. Our clients were told that the strategy was 'low-risk' and with a minimal downside." Currently representing 15 investors, Zamansky is anticipating that additional claimants will come forward.
Zamansky LLC is a financial securities arbitration law firm on New York's Wall Street representing individuals and institutions in FINRA arbitrations and federal and state litigation, including class actions. The firm has over 80 years of collective experience prosecuting claims and recovering losses in the financial industry. In 2014, the firm successfully represented a YES investor who recovered YES losses based on claims of unsuitable investment recommendations and misrepresentation.
Contact:
Jake Zamansky, Esq.
Zamansky LLC
50 Broadway, 32nd Floor
New York, NY, 10004
Phone: (212) 742 1414
Email: jake(at)zamansky.com
Web: zamansky.com
SOURCE Zamansky LLC
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