SAN JUAN, Puerto Rico, March 2, 2015 /PRNewswire-HISPANIC PR WIRE/ — Lawyers with the Securities Law Firm of Shepherd Smith Edwards & Kantas LLP, www.sseklaw.com, are still investigating investor claims involving UBS Puerto Rico bonds and Puerto Rico bond funds.  Hundreds of investors have already filed claims against various brokerage firms for losses stemming from Puerto Rico Bond Funds.  These cases are likely to be significantly impacted by a recently uncovered audio recording of a UBS meeting in 2011, roughly two years before Puerto Rico bonds crashed.

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News agencies have reported that numerous UBS financial advisors were complaining about selling these funds because they were too risky for clients.  These advisors supposedly cited concerns including too much risk, limited liquidity, excessive leverage, and fund instability. 

The reports continue that Miguel Ferrer, who was at the time the chairman of UBS Financial Services Inc. of Puerto Rico, held a meeting with these reluctant UBS.  Supposedly, Ferrer emphasized the “attractive benefits” of the UBS Puerto Rico bond funds, and told these brokers that they needed to sell these products or find a new job. 

Ultimately, these comments made by a UBS executive may substantially strengthen claims made by clients of UBS who bought Puerto Rico bonds or UBS proprietary Puerto Rico bond funds at the recommendation or advice of their UBS broker.  If you are or were a customer of UBS, Banco Popular, or another brokerage firm who invested in Puerto Rico bonds, Puerto Rican 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 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