UBS wins Puerto Rico bond fund arbitration

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UBS has prevailed against an investor's multi-million-dollar arbitration claim for losses tied to the firm's Puerto Rico bond funds, following a string of investor victories.

Reuters reports that a Financial Industry Regulatory Authority (FINRA) arbitration panel ruled that investor Berta Ganapolsky relied on advice from her family's 'outside counsel' and an accountant, instead of her UBS broker, when she chose to remain invested in a bond fund that was underwritten and sold by UBS's Puerto Rico arm

'We believe that justice was not done here', said Charles Lichtman, a lawyer in Boca Raton, Florida, who represented Ganapolsky. 'Our client is a 78-year-old widow, whose UBS broker put all of her money into one investment', Lichtman said in a statement.

To access the complete Reuters article hit the link below:

UBS wins Puerto Rico bond fund arbitration after spate of losses

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