FORT LAUDERDALE, Fla., Oct. 10, 2013 (GLOBE NEWSWIRE) -- The Law Firm of David R. Chase, P.A., headed by a former SEC Prosecutor, announces that it is investigating potential claims for the recovery of recent losses sustained by investors in several UBS Puerto Rico Bond Funds.
The law firm is investigating the sales practices and suitability recommendations associated with the purchase of several closed-end Puerto Rico municipal bond funds, which have experienced substantial losses. Reports have indicated that certain financial advisors may have marketed the bond funds as safe, backed by the Puerto Rico Government and as a reliable dividend paying investment, without fully disclosing the material risks associated with the funds, including their significant leveraged exposure to the underlying municipal bonds. Additionally, overconcentration of these funds in an investor's portfolio, particularly elderly and/or retired investors, would serve only to magnify the risks and unsuitability of the investment. Reports have also indicated that investors who borrowed money from credit lines offered by securities firms to purchase the bond funds have received margin calls and, in some cases, have had their fund shares liquidated.
Customers of UBS Puerto Rico who bought the following funds may have a claim for recovery of their losses: 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 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, including others.
UBS Puerto Rico customers who purchased UBS closed-end municipal bond funds are encouraged to contact my law firm to explore whether they can recover their losses. All calls handled on a confidential, no obligation basis. Cases taken on a contingency fee basis, meaning no attorney's fee owed to the law firm if no recovery.
The Law Office of David R. Chase, P.A., based in Fort Lauderdale, Florida, represents investors nationwide. David Chase has been practicing for 20 years, is AV-Rated by Martindale-Hubbell -- its highest competence and ethics rating -- and previously served as a Securities and Exchange Commission (SEC) Prosecutor. More about the firm is available on its website at: www.davidchaselaw.com.
To discuss your legal options for a potential recovery of your losses, please call me:
|David R. Chase, Esq.|
|Law Office of David R. Chase, P.A.|
|1700 East Las Olas Boulevard, Suite 305|
|Fort Lauderdale, FL 33301|
|888-337-8625 (Toll Free)|
Source:David R. Chase, P.A.