If you invested in UBS ETRACS ETNs bearing the ticker symbols LBDC, MORL, MRRL, LRET, MLPQ, HOML, MLPZ, LMLP, WTID, HDLV, SMHD, DVHL, CEFL, CEFZ, BDCL, please contact Levin Law immediately.
The national securities law firm, Levin Law, P.A. (“Levin Law”) is investigating UBS Financial Services Inc. (“UBS”) other brokerage firms relating to possible wrongdoing in connection with their recommendation and sale of certain UBS ETRACS exchange-traded notes (“ETNs”), which are supposed to track different market indexes. The ticker symbols of the ETRACS ETNs that might have been impacted include: LBDC, MORL, MRRL, LRET, MLPQ, HOML, MLPZ, LMLP, WTID, HDLV, SMHD, DVHL, CEFL, CEFZ, BDCL.
Based on publicly available information, it is believed that UBS and the other broker-dealers that sold UBS ETRACS ETNs may have failed to fully and accurately disclose all material risks of the UBS ETRACS ETNs prior to recommending and selling such investments to their customers. Brokerage firms that did not fully and accurately describe the material risks and benefits of the ETRACS ETNs or engaged in other wrongdoing regarding UBS ETRACS ETNs may be liable for investors’ losses.
UBS ETRACS ETNs are Risky, Complex, and Difficult-to-Understand Investments
UBS ETRACS ETNs are risky and complex investments. UBS ETRACS ETNs are senior, unsecured, unsubordinated debt securities that are designed to track the total return of a specific market index. UBS ETRACS ETNs are risky and leveraged products that can cause massive investment losses and are unsuitable for many investors, including risk-averse retirees, investors seeking stable, fixed income returns, and investors seeking to preserve their principal.
Due in part to the spread of COVID-19, the global securities markets have dropped precipitously. As a result, UBS has instituted mandatory redemptions of certain ETRACS ETNs and has frozen the trading of other ETRACS ETNs. Many ETRACS ETNs investors have lost a substantial percentage of the money that they invested in ETRACS ETNs.
If you or someone you know invested in UBS ETRACS ETNs, contact Levin Law for a free case evaluation. Levin Law accepts cases on a contingency-fee basis.
Contact Levin Law at (305) 402-9050 or firstname.lastname@example.org today if you were an investor in any UBS ETRACS ETN. Levin Law represents investors throughout the United States and the rest of the world. Levin Law’s founding attorney has recovered nearly $100 million in assets for investors.
The UBS ETRACS ETNs that may have been impacted include, but are not limited to:
If your financial advisor, broker, or other investment professional recommended that you purchase UBS ETRACS ETNs and you have lost money in those investments, you may be able to recover such losses through a Financial Industry Regulatory Authority (“FINRA”) arbitration claim.
If you have information about the sales practices of any brokerage firm that recommended or sold UBS ETRACS ETNs or believe that you have suffered losses in UBS ETRACS ETNs, please contact Levin Law managing partner, Brian Levin, at 305-402-9050, email@example.com, or submit a contact form. Levin Law accepts most cases on a contingency-fee basis, meaning that clients are not obligated to pay Levin Law’s attorney fees unless money is recovered for the investor.
Levin Law is a premier national securities and class action law firm with significant experience. Brian Levin, Levin Law’s founding attorney, has helped recover around $100,000,000 through securities arbitration and litigation for individual and institutional investors throughout the country and the rest of the world. Levin Law represents retirees, individual investors, high-net-worth investors, ultra-high-net-worth investors, institutions, family offices, trusts, publicly-held companies, and others. Levin Law is based in Miami, has additional offices in Michigan and California, practices nationwide and represents investors throughout the world.