FINRA Fines UBS, Orders Restitution Over Lehman 100% PPNs
Since our firm won the first case against UBS in the Fall of 2009, we have known this day was coming. Now, it’s official. FINRA has fined UBS $2.5 million and ordered it to pay restitution to some of its retail customers as a result of its misconduct in selling so-called 100% Principal Protection Notes issued by Lehman Brothers. UBS lied to its customers to line its own pockets, and now it is paying the price.
We are representing over thirty additional investors who were sold Lehman PPNs by UBS, and are seeking to obtain full recovery for these investors in FINRA arbitration cases.
If you wish to discuss filing a case to recover your losses at UBS in Lehman structured products, please call Securities Lawyer Jake Zamansky at (212) 742-1414 or email jake@zamansky.com
FINRA’s press release can be found here: http://www.finra.org/Newsroom/NewsReleases/2011/P123479
And the detailed settlement can be found here: http://www.finra.org/web/groups/industry/@ip/@enf/@ad/documents/industry/p123478.pdf
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