Silver Law Group and Law Firm of David R. Chase, P.A. File FINRA Arbitration Claim Seeking Damages in Excess of Five Hundred Thousand Dollars Relating to the UBS Willow Fund
FORT LAUDERDALE, Fla., Aug. 26, 2013 (GLOBE NEWSWIRE) – The Law Firm of David R. Chase, P.A., headed by a former SEC Prosecutor, and Silver Law Group has filed a FINRA arbitration on behalf of an investor in the UBS Willow Fund LLC (“UBS Willow Fund”). The case is FINRA Number 13-02221.
In October 2012 investors were informed that the Willow Fund would be liquidated, after having sustained substantial losses. In a March 2013 New York Times article on the UBS Willow Fund, it was reported that it had suffered losses of approximately 80% in the first three quarters of 2012 after its manager made a radical change in investment strategy and “piled into some colossally bad derivative trades.” “The investors, some of whom hadn’t realized they were holding a portfolio filled with risky bets against the debt of European nations, were stunned,” says the article.
The Willow Fund’s exposure to credit default swaps began to significantly increase, and by the end of 2008, while corporate bonds amounted to only 6% of the portfolio, the value of credit default swaps rocketed to 25% of the portfolio, from only 2.6% in 2007. By 2009, credit default swaps amounted to 43% of the Willow Fund’s portfolio composition, the article claims.
Silver Law Group and the Law Firm of David R. Chase are investigating whether UBS accurately offered and sold the Willow Fund as a safe, secure and suitable investment, particularly to retirees and those customers seeking minimal volatility with stable income, and whether it adequately disclosed the true material risks involved, particularly after the significant material change in the fund’s strategy and portfolio composition. The Law Firms are also investigating whether clients’ portfolios were over-concentrated in the Willow Fund investment.
UBS customers who purchased the Willow Fund are encouraged to contact our law firms 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 firms if no recovery.
To discuss your legal options for a potential recovery of your losses, investors should contact either:
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.
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.