New York, NY (Law Firm Newswire) April 17, 2014 - Zamansky LLC has filed several FINRA arbitrations on behalf of investors in the UBS Willow Fund LLC (“Willow Fund”) with tax losses. The arbitrations are against UBS Financial Services Inc. (“UBS”) which sold the Willow Fund to its brokerage customers. In 2013, the Willow Fund liquidated after investors suffered a 70% or more in losses.
The Statements of Claim in these arbitrations allege that the Willow Fund materially deviated from its disclosed strategy of investing in distressed debt, and instead speculated in trading credit default swaps (CDS), including foreign sovereign debt CDS. The Statement of Claim alleges that the CDS trading carried risks that were far greater in magnitude and different in nature than those disclosed to investors. The Statement of Claim also alleges that investors were never made aware of the change in fundamental strategy in the Willow Fund’s strategy, which eventually sank the Willow Fund causing it to suffer 70% or more losses. The investors assert claims of unsuitability, breach of fiduciary duty and failure to properly supervise and seeks damages for the losses incurred.
The problems associated with the UBS Willow Fund were discussed in a March 30, 2013 article entitled “If A Fund Turns On A Dime, Watch Your Dollars,” by Gretchen Morgenson of the New York Times.
According to securities attorney, Jacob Zamansky, any investor in the Willow Fund who suffered a loss may wish to have their situation reviewed for a potential claim. This was a defective “investment product,” he states, which did not work as expected by our clients, and other investors likely experience the same common problem.
What UBS Willow Fund Investors Can Do
If you invested in the UBS Willow Fund, and would like to have your brokerage accounts reviewed or discuss your legal rights, you may, without obligation or cost to you, email jake(at)zamansky(dot)com or call the law firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is one of the leading law firms specializing in securities fraud, FINRA arbitration and class action litigation. Our FINRA attorneys represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover losses.
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