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Articles Posted in FINRA Awards

Blum Law Group, along with Place and Hanley, LLC is pleased to report a FINRA Arbitration Award against UBS Financial Services of Puerto Rico relating to the crash of UBS closed end bond funds in 2013 which were sold to Puerto Rico residents.  Darren Blum along with trial attorneys Randall Place and Sara Hanley, represented the Claimant customer in the case of Matus Trust v. UBS Financial Services of Puerto Rico, et al.  The arbitration Panel awarded over $400,000 (including the interest) as damages to the Claimant, despite the fact that the account was profitable overall! The Panel also awarded all of Claimant’s attorneys fees to be paid by UBS.

The case involved a heavy over-concentration of the Claimant’s UBS account in proprietary UBS closed end bond funds pursuant to UBS’s recommendations.  The funds invested heavily in Puerto Rico bonds using leverage (a speculative investment technique), and had significant geographic concentration risk.  UBS failed to supervise and was found liable for fraud!

If you wish to discuss claims against UBS involving these funds, please contact Darren Blum at 1-877-786-2552 (Stock Law), for a free consultation.

February 13, 2008

Blum Law Group recently obtained a FINRA arbitration award of damages on behalf of a former Nortel Networks employee against his stockbroker/manager and CIBC. The case involved losses of substantially all of Claimant’s net worth. Claimant alleged Respondents failed to diversify, implement any hedge or recommend any protective device in order to protect Claimant’s savings. This was a wholly unsuitable and risky investment strategy for Claimant resulting in devastating losses. The panel found Respondents liable on the claims of breach of contract; failure to supervise; breach of fiduciary duty; negligence; and negligent hiring and retention.

Blum Law Group. represents investors worldwide in FINRA arbitrations in claims relating to securities industry misconduct. The FINRA award and other information about Blum & Silver can be found at If you have any questions about a potential claim, please contact us for a free consultation.

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