TAG | PPN
Comments off · Posted by Securities Lawyer in FINRA
There are many questions about how Wall Street marketed a very complex product, sold as solid and secure, now emerging in investor arbitration cases. The product is named, incorrectly as it turns out, “100 percent principal protected notes.”
Securities regulators had warned brokerage firms that they should take special care when selling PPN’s and other structured products to retail customers because the products were so complex and, potentially, risky.
“Investors assumed that ‘principal-protected’ meant they couldn’t lose their initial investment, but they clearly could, and many investors unfortunately did,” said Lars Soreide, a securities lawyer from Soreide Law Group, PLLC. “Many of my clients were clearly given the wrong impression, and their brokers knew they were conservative, low-risk investors, but yet still sold them the PPNs.” Soreide adds, “Even though Lehman is gone we are actively pursuing claims against UBS for the sale of the Lehman Principal protected notes.”
One of the worst examples of PPN’s gone bad is Lehman Brothers’ Principal Protected Notes. Brokers at UBS (Switzerland’s largest bank, UBS in particular sold over $1 billion worth) and other firms sold these products with the added benefit of up to 100% principal protection if the market went down. However, Lehman Brothers declared bankruptcy in September, 2008, leaving the investors with worthless paper.
Securities Attorney, Lars Soreide, of Soreide Law, PLLC, has represented clients nationwide. If you or a family member have purchased Lehman’s principal protected notes, call a Securities Arbitration Lawyer for a free consultation on how to potentially recover your losses. To speak with an attorney, call 888-760-6552, or visit www.securitieslawyer.com.
Soreide Law Group, PLLC., representing investors nationwide before FINRA the Financial Industry Regulatory Authority.
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