Soreide Law Group is currently investigating UBS Financial Services (UBS) in the sale of UBS V10 Enhanced FX Carry Strategy. UBS is one of the largest FX dealers and was recently under investigation by Switzerland's regulatory authority, FINMA, into potential FX benchmark manipulation. As a result, they were severely penalized. Bloomberg describes the product as having been sold as a 'high-yielding foreign-exchange investment that used computer algorithms to minimize risks in periods of volatility.' When the European debt crisis began, the index to which the notes were tied lost 26% in two years according to Bloomberg.
Recently there was a lawsuit filed in Federal Court in Florida claiming the client was sold UBS V10 Enhanced FX Carry Strategy, resulting in losses over $100,000. This individual claims he did not ask for this risky, complex product sold to him by his financial advisor. Due to this lawsuit, the US Department of Justice is examining whether UBS traders deliberately overcharged investors by carrying out the currency trades needed to execute the strategy.
If you've invested in the UBS V10 Enhanced FX Carry Strategy at the recommendation of your financial advisor/broker and experienced losses, contact Soreide Law Group at (888) 760-6552 for a free consultation on how you may be able to recover your losses. Soreide Law Group, PLLC, (https://www.securitieslawyer.com) is currently representing investors nationally and internationally against UBS.
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