We continue to investigate sales practices of brokerage firms who sold Puerto Rico Conservation Trust Fund Secured Notes 5.90% Due April 15, 2034. These notes were originally issued on March 31, 2004. The Puerto Rico Conservation Trust Fund Secured Notes 5.90% carry a B2 rating by Moody’s, which indicates that the notes are speculative in nature, subject to high credit risk and have poor credit quality. Unfortunately, we believe at the time these notes were sold, many clients were informed by their financial advisor that these were appropriate investments for conservative or retired clients who were not looking to speculate. We believe many clients were sold these investments in an unsuitable and inappropriate amounts.
The brokerage firms who we believe were major peddlers of the Puerto Rico Conservation Trust Fund Secured Notes 5.90% include UBS Financial Services, R-G Investments, Corp., Santander Securities Corp.; and Popular Securities. Claims for rescovery include suitability claims, misrepresentation and omissions claims as well as fraud based claims.
Burned investors might be able to recover some, or all, of their losses through the FINRA arbitration process. Either arbitration claims or lawsuits can be used to recoup these losses for clients who match a certain profile on a contingency fee basis. To learn more, please contact our law firm in Chicago, Illinois for a no obligation consultation.
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