{"id":45504,"date":"2016-05-03T09:00:00","date_gmt":"2016-05-03T13:00:00","guid":{"rendered":"http:\/\/hispanicprwire.com\/shepherd-smith-edwards-kantas-llp-puerto-rico-bond-default-likely-to-deepen-losses-to-investors\/"},"modified":"2016-05-03T09:02:18","modified_gmt":"2016-05-03T13:02:18","slug":"shepherd-smith-edwards-kantas-llp-el-default-de-bonos-de-puerto-rico-probablemente-profundice-las-perdidas-de-los-inversores","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/shepherd-smith-edwards-kantas-llp-el-default-de-bonos-de-puerto-rico-probablemente-profundice-las-perdidas-de-los-inversores\/","title":{"rendered":"Shepherd Smith Edwards &amp; Kantas LLP: Puerto Rico Bond Default Likely To Deepen Losses To Investors"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">SAN JUAN, Puerto Rico<\/span>, <span class=\"xn-chron\">May 3, 2016<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212;\u00a0Yesterday, <a href=\"http:\/\/www.npr.org\/sections\/thetwo-way\/2016\/05\/02\/476465542\/a-tough-decision-puerto-rican-governor-says-island-will-miss-debt-payment\" target=\"_blank\" rel=\"nofollow\">Puerto Rico failed to make a payment due to bondholders of the Puerto Rico Government Development Bank<\/a>.\u00a0 The Island was supposed to make a payment of over <span class=\"xn-money\">$400 million<\/span> for Monday&#8217;s payment, representing the largest default to date made by the territory, as well as the first default of bonds by the Government Development Bank.\u00a0 <span class=\"xn-location\">Puerto Rico<\/span> has been defaulting on payments since the beginning\u00a0of August 2015.\u00a0 The continuation of these defaults is likely to increase the losses being faced by current investors.<\/p>\n<p>Logo &#8211; <a href=\"http:\/\/photos.prnewswire.com\/prnh\/20131011\/DA96469LOGO\" target=\"_blank\" rel=\"nofollow\">http:\/\/photos.prnewswire.com\/prnh\/20131011\/DA96469LOGO<\/a><\/p>\n<p>Many financial advisors with UBS and other firms recommended their clients buy huge amounts of <span class=\"xn-location\">Puerto Rico<\/span> bonds, claiming that these investments were low risk, fixed income options for Puerto Rican investors.\u00a0 In doing so, these advisors were overlooking the warning signs of <span class=\"xn-location\">Puerto Rico<\/span> being unable to keep up with debt payments.<\/p>\n<p>Many clients did not understand that <span class=\"xn-location\">Puerto Rico<\/span> bonds, particularly in large amounts, carried substantial amounts of risk.\u00a0 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 <span class=\"xn-location\">United States<\/span> counterparts did.\u00a0 <\/p>\n<p>If you are or were a customer of UBS Puerto Rico, Banco Popular, or another <span class=\"xn-location\">Puerto Rico<\/span> brokerage firm who invested in <span class=\"xn-location\">Puerto Rico<\/span> bonds, UBS Puerto Rico bond funds or similar securities, it is not too late to contact the law firm of Shepherd Smith Edwards &amp; 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.\u00a0 All communications will be kept strictly confidential, and you will not be billed in any way for a consultation.\u00a0 <\/p>\n<p>Shepherd Smith Edwards &amp; 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 <span class=\"xn-location\">the United States<\/span>, <span class=\"xn-location\">Puerto Rico<\/span>, and internationally to recover losses suffered through brokerage firms and banks. More information can also be found at <a href=\"http:\/\/www.ubs-taxfree-puertorico.com\/\" target=\"_blank\" rel=\"nofollow\">www.ubs-taxfree-puertorico.com<\/a>.<\/p>\n<p>Contact Info: 800-259-9010<\/p>\n<p>713-580-8914 to speak to Spanish fluent staff<\/p>\n<p><span class=\"xn-person\">Sam Edwards<\/span> <a href=\"mailto:sedwards@sseklaw.com\" target=\"_blank\" rel=\"nofollow\">sedwards@sseklaw.com<\/a><\/p>\n<p><span class=\"xn-person\">Kirk Smith<\/span> <a href=\"mailto:ksmith@sseklaw.com\" target=\"_blank\" rel=\"nofollow\">ksmith@sseklaw.com<\/a><\/p>\n<p><span class=\"xn-person\">Luis Acevedo<\/span> <a href=\"mailto:lacevedo@sseklaw.com\" target=\"_blank\" rel=\"nofollow\">lacevedo@sseklaw.com<\/a><\/p>\n<\/div>\n<p> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">SAN JUAN, Puerto Rico<\/span>, <span class=\"xn-chron\">May 3, 2016<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212;\u00a0Yesterday, <a href=\"http:\/\/www.npr.org\/sections\/thetwo-way\/2016\/05\/02\/476465542\/a-tough-decision-puerto-rican-governor-says-island-will-miss-debt-payment\" target=\"_blank\" rel=\"nofollow\">Puerto Rico failed to make a payment due to bondholders of the Puerto Rico Government Development Bank<\/a>.\u00a0 The Island was supposed to make a payment of over <span class=\"xn-money\">$400 million<\/span> for Monday&#8217;s payment, representing the largest&#8230;<\/p>\n","protected":false},"author":1,"featured_media":45505,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-45504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-negocios-y-finanzas"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/45504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=45504"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/45504\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media\/45505"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=45504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=45504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=45504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}