On December 16, 2010, a three member FINRA arbitration panel awarded Thomas and Christine Motamed $2.2 million plus interest from date of purchase (Case #09-02087). According to the award, this amount represented rescissionary damages for the purchase of the structured products. The request for attorney’s fees, costs and punitive damages was denied.
UBS has been hit with hundreds of FINRA arbitration claims related to the sale of Lehman Brothers related structured notes, including 100% Principal Protected Notes (PPN), Partially Principal Protected Notes (PPPN), Return Optimization Notes (RON) and Barrier Notes.
The attorney’s at Colling Gilbert Wright & Carter are currently investigating and litigating numerous arbitration cases to recover damages for individual investors who were sold the proprietary structured products as being safe investments, suitable for retirees and offering various level of principal protection. If you believe a UBS representative misrepresented a Lehman Brothers structured note(s) during the soliciation and sale, please contact our offices for a complimentary case evaluation.