MIAMI, Oct. 10, 2013 (GLOBE NEWSWIRE) -- The securities law firm of Dimond Kaplan & Rothstein, P.A. (www.dkrpa.com) continues to pursue claims against UBS Financial Services of Puerto Rico ("UBS Puerto Rico"), a unit of the Swiss bank UBS AG. Dimond Kaplan & Rothstein has partnered with Puerto Rico's former two-term governor, Carlos Romero Barceló, to represent UBS Puerto Rico clients who lost money in UBS-affiliated closed-end bond funds.
Many UBS Puerto Rico clients have lost millions of dollars as the leveraged UBS-affiliated funds have dropped in value. Investors who followed UBS Puerto Rico's advice to borrow money to buy the leveraged UBS bond funds stand to lose the most money. Investors borrowed money either from UBS Puerto Rico or from its affiliated bank, UBS Bank USA, out of Salt Lake City, Utah, and the UBS bond funds generally were used as collateral for the loans. When the value of the bond funds declined, many investors were forced to sell securities to meet margin calls. To add insult to injury, UBS Bank USA, has demanded that certain investors immediately repay their entire loans, presumably because the collateral for the loans (the UBS funds) have declined in value. Many investors do not have the ability to repay the loans because the borrowed money was used to purchase the very UBS bond funds that have declined in value.
"It appears that UBS Puerto Rico improperly created a disastrous financial situation for many investors and now its affiliated bank is making matters worse by demanding full repayment of loans," said attorney Jeffrey Kaplan of Dimond Kaplan & Rothstein, P.A.
Investors who lost money may be able to recover their investment losses through binding FINRA arbitration claims against UBS Puerto Rico. If you lost money in UBS-affiliated bond funds that you bought from UBS Puerto Rico, please contact attorney Jeffrey B. Kaplan at (888) 578-6255 or (305) 374-1920 or e-mail him at email@example.com. You also may visit the firm on the web at www.dkrpa.com.
CONTACT: Jeffrey B. Kaplan (888) 578-6255 (305) 374-1920 firstname.lastname@example.org
Source:Dimond Kaplan & Rothstein, P.A.