{"id":1487,"date":"2014-07-23T16:41:54","date_gmt":"2014-07-23T16:41:54","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/07\/investors_pursue_ubss_puerto_r"},"modified":"2022-03-11T13:24:02","modified_gmt":"2022-03-11T19:24:02","slug":"investors-pursue-ubss-puerto-r","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/investors-pursue-ubss-puerto-r\/","title":{"rendered":"Investors Pursue UBS’s Puerto Rico Brokerage Over Closed-End Bond Funds"},"content":{"rendered":"

\t\t\t\tThe Financial Industry Regulatory Authority is reporting that roughly 400 claims have already been filed against UBS Financial Services Inc. of Puerto Rico (UBS)<\/a> and other brokerage firms over the fallout of municipal bonds and bond funds related to the Commonwealth of Puerto Rico. As the U.S. territory’s bonds continue to drop in price, more investors are likely to file cases. <\/p>\n

According to Securities Attorney Sam Edwards, one of the partners at Shepherd, Smith, Edwards & Kantas<\/a> currently representing dozens of investors who lost money in these investments, “”The recent drop in Puerto Rico bond prices have resulted in Puerto Rico bonds, and the bond funds holding Puerto Rico bonds, to give back most, if not all, of the gains of the last nine months. Bond prices have largely returned to the lows suffered in the Fall of 2013.” Mr. Edwards continues, “This is likely to result in new groups of clients coming forward as the rally in Puerto Rico debt appears to have been short-lived.”<\/p>\n

Investors, many of them locals, took huge financial losses when two dozen Puerto Rico bond funds sponsored by UBS and Popular Securities, Inc. (Banco Popular) declined in value last year. Many of the investors are retirees and other senior investors that have now lost their life savings. However, they are not the only ones impacted.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Financial Industry Regulatory Authority is reporting that roughly 400 claims have already been filed against UBS Financial Services Inc. of Puerto Rico (UBS) and other brokerage firms over the fallout of municipal bonds and bond funds related to the Commonwealth of Puerto Rico. As the U.S. territory’s bonds continue to drop in price, more […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3922,4039,3755],"tags":[3439],"class_list":["post-1487","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-municipal-bonds","category-puerto-rico-bond-funds","category-ubs","tag-sam-edwards"],"yoast_head":"\nInvestors Pursue UBS's Puerto Rico Brokerage Over Closed-End Bond Funds — Investor Lawyers Blog — July 23, 2014<\/title>\n<meta name=\"description\" content=\"The Financial Industry Regulatory Authority is reporting that roughly 400 claims have already been filed against UBS Financial Services Inc. of Puerto — July 23, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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