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The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, announced today that it is investigating the sales practices of brokerage firms, including UBS Financial Services (NYSE: UBS), who sold the UBS Willow Fund to their customers. Last month, a class action lawsuit was filed on behalf of investors in the UBS Willow Fund. Eligible class members are encouraged to explore all of their legal options, including filing an individual securities arbitration claim against their full service brokerage firm who sold them the Fund.
In February 2000, UBS and Bond Street Capital formed the Willow Fund, a closed-end mutual fund, in order to purchase debt and other securities of distressed companies that were in the process of restructuring their debt financing. Since 2007, the Fund’s net asset value (“NAV”) has suffered declines of over $300 million. As a result, many investors in the fund have lost about 80% of their initial investment.
Many Willow Fund investors were advised that the product was a low risk, safe fixed income investment. However, they were unaware of the extensive use of leverage through derivatives and credit default swaps. The reality is that the UBS Willow Fund was a speculative investment and unsuitable for customers who were looking to avoid substantial risk and/or those whose investment objective was income.
Accordingly, KlaymanToskes is investigating whether brokerage firms adequately disclosed the risks associated with the product, as well as whether investors’ portfolios were over-concentrated in the Fund. KlaymanToskes has been contacted by Willow Fund investors who purchased the product from UBS Financial Services, and are preparing to file securities arbitration claims on their behalf.
Investors who have sustained losses in the UBS Willow Fund can contact KlaymanToskes to explore their legal rights and options. The attorneys at KlaymanToskes are dedicated to pursuing claims on behalf of investors who have suffered investment losses. KlaymanToskes, an experienced, qualified and nationally recognized securities litigation law firm, practices exclusively in the field of securities arbitration and litigation. It continues its representation of investors throughout the world in securities arbitration and litigation matters against major Wall Street brokerage firms.
If you wish to discuss this announcement or have investment losses of $100,000 or more in the UBS Willow Fund, please contact our firm, toll free, at 888-997-9956.
See announcement of investigation at Yahoo! Finance.