SAN JUAN, Puerto Rico, Oct. 9, 2013 (GLOBE NEWSWIRE) -- Silver Law Group and its co-counsel are representing investors in claims against UBS for sales of UBS Puerto Rico closed-end fixed income funds. Our team of lawyers includes Carlos Romero Barceló, the former two-term governor of Puerto Rico and currently in private practice in San Juan, Puerto Rico. The allegations include claims for misrepresentation, negligence and improper advice regarding the use of leverage within the funds or the extension of credit or loans from UBS to purchase additional funds.
UBS sold the flawed products from offices in San Juan and elsewhere, promoting the funds as preserving capital while providing a reliable income stream. Many conservative and elderly investors purchased these funds for their retirement. UBS is now allegedly investigating advisors who may have improperly recommended loans to customers to purchase the Funds. In some cases, the true risks of these investments were not disclosed to the clients, many of whom could not afford to take the risks associated with these investments. For clients who invested in the following funds, some, or all, of the investment losses might be recoverable through FINRA arbitration or in another venue: Tax-Free Puerto Rico Fund, Tax-Free Puerto Rico Fund II, Tax-Free Puerto Rico Target Maturity Fund, Puerto Rico AAA Portfolio Target Maturity Fund, Inc., Puerto Rico AAA Portfolio Bond Fund, Puerto Rico AAA Portfolio Bond Fund II, Puerto Rico GNMA & U.S. Government Target Maturity Fund, Puerto Rico Mortgage-Backed & U.S. Government Securities Fund, Puerto Rico Fixed Income Fund, Puerto Rico Fixed Income Fund II, Puerto Rico Fixed Income Fund III, Puerto Rico Fixed Income Fund IV, Puerto Rico Fixed Income Fund V, Puerto Rico Fixed Income Fund VI, Puerto Rico Short Term Investment Fund, Multi-Select Securities Puerto Rico Fund, Puerto Rico Investors Tax-Free Fund, Puerto Rico Investors Tax-Free Fund II, Puerto Rico Investors Tax-Free Fund III, Puerto Rico Investors Tax-Free Fund IV, Puerto Rico Investors Tax-Free Fund V, Puerto Rico Investors Tax-Free Fund VI.
Silver Law Group is proud to associate with highly-skilled counsel in Puerto Rico to advise investors about their legal rights and attempt to recover improper investment losses. For more information on recovering investment losses on a contingency fee basis, please visit www.silverlaw.com.
Silver Law Group is a nationally-recognized securities law firm headquartered in South Florida, with satellite offices in New York and Washington, DC, representing investors worldwide with their claims for losses due to stockbroker misconduct and brokerage firm negligence in securities litigation and arbitration matters. The firm has successfully recovered multi-million dollar awards for its clients against the country's top brokerage houses.
Source:Silver Law Group