{"id":3694,"date":"2016-04-19T00:00:00","date_gmt":"2016-04-19T05:00:00","guid":{"rendered":"https:\/\/stockbrokerfraudblog.blawgcloud.com\/2016\/04\/former_ubs_puerto_rico_employe"},"modified":"2022-08-29T09:33:59","modified_gmt":"2022-08-29T14:33:59","slug":"former-ubs-puerto-rico-employe","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/former-ubs-puerto-rico-employe\/","title":{"rendered":"Former UBS Puerto Rico Employees Brought $25M Lawsuit Against the Firm"},"content":{"rendered":"

Over the last two years, more than 1,000 investors have sued UBS Puerto Rico (UBS-PR) in FINRA arbitration or other forums over mounting losses from the collapse of the Puerto Rico bond market. However, investors are not the only ones suing UBS-PR <\/a>over its sale of risky bonds. Siblings Jorge and Teresa Bravo have sued UBS for $10 million in FINRA arbitration along with UBS-PR customers.<\/p>\n

The Bravos, both ex-senior VPs at the brokerage firm, said management fooled not just customers but also UBS employees. They said they were coerced and threatened into selling Puerto Rico close-end bond funds and they were mistreated before being forced out.<\/p>\n

Along with the Bravos, seven former UBS Puerto Rico employees have filed claims against UBS-PR seeking $25 million from their former employer. That group of former UBS-PR brokers claim UBS management made misleading statements to them, as well as customers, about the closed-end mutual funds. The brokers also said management pressured brokers at the firm to sell these Puerto Rico securities. News of the seven former brokers\u2019 lawsuit broke last year around the time that Reuters<\/em> disclosed the existence of a UBS letter noting that the collateral value of closed-end funds would be reduced to zero\u2014an indication of their riskiness.<\/p>\n

At Shepherd Smith Edwards and Kantas, LTD LLP, our Puerto Rico bond fraud lawyers have been working with investors to recoup their money. Too many investors lost much of the money they invested with UBS-PR and other brokerage firms on the island when these securities began to fail three years ago. Our securities lawyers on the island and the U.S. mainland are representing clients who have FINRA arbitration claims.<\/p>\n

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

Over the last two years, more than 1,000 investors have sued UBS Puerto Rico (UBS-PR) in FINRA arbitration or other forums over mounting losses from the collapse of the Puerto Rico bond market. However, investors are not the only ones suing UBS-PR over its sale of risky bonds. Siblings Jorge and Teresa Bravo have sued […]<\/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],"tags":[],"class_list":["post-3694","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-municipal-bonds","category-puerto-rico-bond-funds"],"yoast_head":"\nFormer UBS Puerto Rico Employees Brought $25M Lawsuit Against the Firm — Investor Lawyers Blog — April 19, 2016<\/title>\n<meta name=\"description\" content=\"Over the last two years, more than 1,000 investors have sued UBS Puerto Rico (UBS-PR) in FINRA arbitration or other forums over mounting losses from the — April 19, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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