FORT LAUDERDALE, Fla., Nov. 18, 2008 (GLOBE NEWSWIRE) -- The Law Firm of David R. Chase, P.A. (the "Firm"), headed by former Securities and Exchange Commission Prosecutor and Special Assistant United States Attorney, David R. Chase, announces that it is investigating investor claims for losses sustained in Lehman Principal Protected Notes.
The Firm is investigating whether broker-dealers, including UBS, Merrill Lynch and Wachovia Securities, adequately and accurately disclosed the true risks and nature of these Principal Protected Notes to conservative, risk-averse investors, including the elderly, who sought income and safety of principal, and whether these sales were suitable.
A class action lawsuit was filed on November 6, 2008 against UBS Financial Services, Inc. on behalf of persons who purchased Lehman Principal Protected Notes from it between May 30, 2006 and September 15, 2008. Investors in these structured investments, which purportedly guaranteed 100% of the investment principal if held to maturity, are now senior unsecured creditors in the Lehman bankruptcy proceeding filed on September 15, 2008.
Although a class action has been filed against UBS, investors who purchased Lehman Brothers Principal Protected Notes should seriously consider pursuing their own individual FINRA (Financial Industry Regulatory Authority) arbitration claims as a potentially superior alternative to joining the class action. Unlike a class action, an individual arbitration claim allows you to: (1) choose your own counsel (only the lead plaintiff has this right in a class action), (2) have your unique facts presented to an arbitration panel, (3) control the decision whether to settle your case and for how much, and (4) generally secure a result within approximately twelve months, as opposed to potentially years with a class action.
The Law Firm of David R. Chase, P.A., has extensive experience representing defrauded investors nationwide in securities litigation matters. The Firm's principal, David R. Chase, has sixteen (16) years of experience, is AV-Rated by Martindale-Hubbell (its highest rating), and previously served as Senior Counsel in the Enforcement Division of the Securities and Exchange Commission, and as a Special Assistant United States Attorney in the Economic Crimes Division of the United States Attorney's Office in the Southern District of Florida. More about the firm is available on its website at: www.davidchaselaw.com. If you or a family member suffered losses in Lehman Principal Protected Notes and would like a confidential case evaluation at no charge, please contact directly.