The Securities Arbitration Law Firm of Klayman & Toskes & Carlo Law Offices File $700,000 Claim Against UBS Financial Service...
05 8월 2014 - 8:06AM
Business Wire
The Securities Arbitration Law Firm of Klayman & Toskes,
P.A., www.perdidasenbonospr.com;
www.sueubspuertorico.com, together
with Carlo Law Offices, P.S.C. located in Puerto Rico, announced
today that they filed a claim against UBS Financial Services
Incorporated of Puerto Rico and UBS Financial Services, Inc. (NYSE:
UBS) (collectively “UBS”). According to the Claim, the Claimant, a
business owner in Puerto Rico, entrusted assets with UBS with the
objective of current income and capital appreciation. However, UBS
ended up concentrating his whole account in preferred and common
stock closely tied to the performance of Puerto Rico’s economy,
including First Bancorp Puerto Rico (NYSE: FBP), Doral Financial
Corp. (NYSE: DRL), and W. Holding Co. (Westernbank) (OTC: WHCI). By
2009, just as Claimant was in the midst of diversifying his career
to endure a failing economy, UBS failed to diversify his
portfolio.
UBS purchased and held for Claimant common and preferred stock
from banks in Puerto Rico. The Claimant believed the purchases were
consistent with his stated risk tolerance of low to moderate risk.
However the over concentration in these bank stocks was fraught
with excessive risk given the Claimant’s investment objectives. UBS
failed to disclose to Claimant the risks associated with over
concentrating the account in these securities, which appeared
diversified but in reality depended solely in the performance of
Puerto Rico's economy. Had this information and the true nature of
the risk of the recommended allocation been known to Claimant or
properly disclosed, he would not have invested his assets in these
products.
The sole purpose of this release is to investigate, on behalf of
our clients, the sales practices of UBS in connection with
investment recommendations provided to their customers. Current and
former customers of UBS who have information relating the
investment advice provided by the firm, are encouraged to contact
Steven D. Toskes of Klayman & Toskes, or Lcdo. Osvaldo
Carlo of Carlo Law Offices, at (787) 919-7325, or visit us on the
web at www.perdidasenbonospr.com or
www.sueubspuertorico.com.
Klayman & ToskesSteven D. ToskesorCarlo Law OfficesLcdo.
Osvaldo Carlo787-919-7325
Doral Financial (NYSE:DRL)
과거 데이터 주식 차트
부터 12월(12) 2024 으로 12월(12) 2024
Doral Financial (NYSE:DRL)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024
