NEW YORK, Sept. 10, 2012 (GLOBE NEWSWIRE) -- David A. Weintraub, P.A., is investigating investors' potential claims that UBS Financial failed to recommend that clients sell Lehman Principal Protection Notes in the spring of 2008.
Beginning in the fourth quarter of 2006, UBS offered structured products issued through its Open Architecture Platform. From March 17, 2008 to June 30, 2008, those structured products included Lehman Brothers Holdings Inc., 100% Principal Protection Notes.
During the period, UBS indicated it would conduct due diligence of its third-party issuers, including Lehman Brothers. UBS was aware of market events impacting Lehman Brothers' creditworthiness and enhanced its credit check procedures for third-party issuers such as Lehman Brothers. However, UBS did not provide its financial advisors or customers with material information that would have provided a fair and balanced presentation of the benefits and risks of purchasing Lehman Principal Protection Notes.
UBS clients who held Lehman Principal Protection Notes from March 17 through June 30, 2008, may have valid claims against UBS based upon the company's failure to recommend the sale of Lehman Principal Protection Notes. Although the Notes may have been appropriate when purchased, they may have become unsuitable for certain investors during the spring of 2008. Potential claimants may discuss legal options and/or the possibility of pursuing claims in arbitration by contacting David A. Weintraub, P.A., 800.718.1422.