SAN JUAN, PUERTO RICO – August 14, 2019 – (GLOBENEWSWIRE – HISPANICIZE WIRE) – Lawyers with the law firm of Shepherd, Smith, Edwards & Kantas (SSEK Law Firm) continue to file cases on behalf of Puerto Rico bondholders and investors in closed-end funds whose investment portfolios were concentrated in these toxic assets, working to recover their financial losses from various financial firms and hold the investment advisory firms responsible. Investors who delay or put off finding out whether they are able to recover their financial losses and taking action may soon be prevented and denied from doing so. SSEK Law Firm has filed numerous lawsuits against the brokerage firms involved with selling these products and is determined to help as many customers as possible to recoup their maximum compensation for their losses before time runs out to hold these firms accountable. Multiple allegations have been filed in lawsuits against the below brokerage firms, charging them with selling these unsuitable investments to their customers:
- UBS Financial Services Inc. of Puerto Rico
- UBS Securities
- Popular Securities, LLC
- Santander Securities, LLC
- Oriental Financial Services, Corp.
Many residents of Puerto Rico that were sold these investments have suffered crippling financial losses and anxiety as a direct result of their investment losses tied to these toxic products. A multitude of investors of these brokerage firms, many having been long-time customers, have filed complaints against these firms and their financial advisors for fraud, negligence, misrepresentation, unsuitability, and other abuses. While UBS was the most active brokerage firm selling these products, having created and sold proprietary bonds and closed-end funds heavily invested in these Puerto Rico bonds, each of the above-listed firms has had several complaints filed by their customers whose accounts were heavily invested in these products, leading to devastating economic losses.
If you or someone you know invested in Puerto Rican bond funds and suffered losses, please contact the law firm of Shepherd, Smith, Edwards & Kantas, LLP today for a free, confidential evaluation of your account(s). We have a team of attorneys, consultants, and staff with over 100 years of combined experience in the securities industry and in securities law that are ready to assist you in recovering your investment losses today.