Securities Arbitration Lawyers BlogSilver Law Group is Investigating UBS Financial Services Broker James Dillon for Potential Unsuitable Recommendations Relating to Puerto Rico Municipal Bonds
Silver Law Group is investigating claims against UBS Financial Services (“UBS”) New York-based stockbroker James Dillon (“Dillon”). According to the Financial Industry Regulatory Authority (“FINRA”), Dillon’s FINRA BrokerCheck record shows a pending customer dispute alleging claims of unsuitable concentration in connection with the purchase of Puerto Rico municipal bonds. The damages alleged in the complaint are $500,000.
Silver Law Group is representing investors in claims against UBS and several other brokerage firms relating to the sale and concentration of portfolios in Puerto Rico municipal bonds. Brokers recommended Puerto Rico bonds due to their high coupons without disclosing to investors the risks associated with the Puerto Rican economy and the on-going recession on the island. Many elderly and conservative investors lost substantial portions of their portfolios when the Puerto Rico municipal bonds collapsed in value causing many to lose their entire retirement savings.
Silver Law Group is representing customers of brokerage firms in securities arbitration claims for losses in Puerto Rico municipal bonds alleging that the customers were misled about the risks of the bonds, overconcentration, breach of fiduciary duty, and excessive trading.