SAN JUAN, Puerto Rico, Sept. 17, 2014 /PRNewswire-HISPANIC PR WIRE/ — Lawyers with the Securities Law Firm of Shepherd Smith Edwards & Kantas LLP, www.sseklaw.com, are still investigating claims involving Puerto Rico bonds.  A number of brokerage firms in Puerto Rico, including UBS, Banco Popular, and others, sold massive amounts of Puerto Rico bonds.  UBS also sold proprietary investment funds which held Puerto Rico bonds, in whole or in part.

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Many clients purchased Puerto Rico bonds or shares of these proprietary UBS funds at the recommendation of their broker.  Often, these investments were sold as low risk, fixed income options for Puerto Rican investors.  Many clients did not understand that Puerto Rico bonds, particularly in large amounts, carried substantial amounts of risk.  Those clients who purchased UBS proprietary funds were taking even larger risks, as those funds were often highly leveraged and carried significantly higher risks than what their continental United States counterparts did. 

Some clients were even recommended to borrow money, either from their brokerage firm or a bank, in order to purchase even larger amounts of these Puerto Rico investments.  This strategy greatly increased the risks the investors faced, quite the contrary to the “win-win” recommendation the clients believed they were following.

If you are or were a customer of UBS Puerto Rico, Banco Popular, or another Puerto Rico brokerage firm who invested in Puerto Rico bonds, UBS Puerto Rico bond funds or similar securities, it is not too late to contact the law firm of Shepherd Smith Edwards & Kantas LLP for an evaluation of your account to determine if you might have a claim to attempt to recover some or all of your losses.  All communications will be kept strictly confidential, and you will not be billed in any way for a consultation. 

Shepherd Smith Edwards & Kantas LLP has a team of attorneys, consultants and staff with more than 100 years of combined experience in the securities industry and in securities law. For more than two decades, our firm has represented thousands of investors throughout the United States, Puerto Rico, and internationally to recover losses suffered through brokerage firms and banks. We have represented clients in Federal and state courts and in arbitration through the Financial Industry Regulatory Authority (FINRA), the New York Stock Exchange Inc. (NYSE), the American Arbitration Association (AAA) and in private arbitration actions. More information can also be found at www.ubs-taxfree-puertorico.com.

Contact Info: 800-259-9010

713-580-8914 to speak to Spanish fluent staff

Sam Edwards sedwards@sseklaw.com

Kirk Smith ksmith@sseklaw.com

Luis Acevedo lacevedo@sseklaw.com