FORT LAUDERDALE, Fla., Feb. 17, 2011 (GLOBE NEWSWIRE) -- The Law Firm of David R. Chase, P.A., representing investors nationwide and headed by a former SEC Prosecutor, announces that it has filed a FINRA arbitration claim against UBS Financial Services, Inc. on behalf of a customer seeking the recovery of his investment losses in a purported "100% Principal Protected" Lehman Brothers Note.
UBS recommended and sold the Lehman Principal Protected Note as safe and secure, representing that the only downside of the investment was that the principal investment would be returned if the note was held to maturity, the arbitration claim alleges. The suit further contends that UBS failed to disclose the true risk of the Lehman Note -- that it would become worthless in the event Lehman Brothers could not satisfy its financial obligations, which came to fruition upon Lehman's bankruptcy filing in September 2008. Thus the representation of "100% Principal Protection" was a pure fabrication, materially misleading and just plain untrue, the claim contends.
The arbitration claim accuses UBS of misrepresentations and omission, negligence and gross negligence, negligent supervision and breach of fiduciary duty, and seeks the recovery of the investment loss in the Lehman Note, in addition to interest, attorney's fees and punitive damages.
If you or a family member suffered losses in Lehman Brothers Principal Protected Notes, do not delay in enforcing your legal rights. You may call me directly on a confidential basis to discuss how you may be able to recover your investment losses: at: (888)-337-8625 (toll free). Cases taken on a contingency basis, meaning if there is no recovery, you owe no attorney's fees or costs.
The Law Firm of David R. Chase, P.A., based in Fort Lauderdale, Florida, represents investors nationwide in cases against the major Wall Street Firms. The Firm's principal, David R. Chase, has been practicing for over 18 years, is AV-Rated by Martindale-Hubbell -- its highest competence and ethics rating, and previously served as a securities prosecutor for the Federal Government. More about the firm is available on its website at: .
CONTACT: David R. Chase, Esq. Law Firm of David R. Chase, P.A. 1700 East Las Olas Boulevard Suite 305 Fort Lauderdale, FL 33301 888-337-8625 (Toll Free) 954-920-7779 Email: david@davidchaselaw.com