Articles Posted in Investors Rights & Alerts

How Do You Recover Your “UBS-YES” Investment Losses?

If you are reading this Blog, Matthew Stern Buchsbaum probably recommended that you invest in the UBS Yield Enhanced Strategy (“UBS-YES”) and lost 20-40% of your original investment in what was supposed to be a “market neutral” investment strategy. Despite your UBS Financial Services, Inc. (“UBS”) stockbroker’s representations about the UBS-YES managers ability to “manage risk” and “minimize losses” through its “iron condor” option strategy you still realized substantial losses. You are not alone because that is just what many other UBS-YES investors have told us about the pitch made to them to invest in the UBS-YES program and their recent experience.

In fact, according to FINRA’s BrokerCheck website twenty-four (24) investors have filed arbitration claims against UBS for its own misrepresentations about and/or mismanagement of the program and/or Mr. Buchsbaum’s UBS-YES investment recommendations. According to the BrokerCheck report, two of those complaints were denied by the firm and twenty-two (22) remain pending. Continue Reading

Let Us Help You Recover Your GPB Investment Losses!

Darren Michael Kubiak was recently registered as a stockbroker with Kalos Capital, LLC until he was suspended and fined by FINRA for allegedly making unsuitable investment recommendations and misrepresenting the risk of certain investments. He remains employed by Kubiak Financial Services in Lawrenceville, Georgia.   During Mr. Kubiak’s securities industry career as a salesperson he has been the subject of one FINRA regulatory complaint and four customer disputes which are pending.  We believe that at least one of these complaints relate to Mr. Kubiak’s  private offer and sale of GPB Capital Holdings sponsored limited partnership interests.

We are attorneys offering to help GPB investors who made private placement investments in the following limited partnerships offered and sold by Darren Michael Kubiak during his employment with Kalos Capital; that is, help them to rescind their GPB investment and/or recover their GPB investment losses:

  • GPB Automotive Portfolio, LP
  • GPB Cold Storage LP
  • GPB Holdings, LP
  • GPB Holdings II, LP
  • GPB Holdings III, LP
  • GPB Holdings Qualified, LP
  • GPB NYC Development, LP
  • GPB Waste Management Fund, LP

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Let Us Help You Recover Your GPB Investment Losses!

Matthew Crafa is currently employed by Gateway Investments and registered as a stockbroker with Royal Alliance Associates in Garden City, New York.  On information and belief, the same Matthew Crafa maintains a residence in Boca Raton, Florida. During Mr. Crafa’s securities industry career as a salesperson he has been the subject of three customer complaints. We believe all three of these complaints relate to Mr. Crafa’s private offer and sale of GPB Capital Holdings sponsored limited partnership interests. Those matters still appear to be pending.

We are attorneys offering to help GPB investors who made private placement investments in the following limited partnerships offered and sold by Mr. Crafa during his employment with Gateway Investments and Royal Alliance; that is, help them to rescind their GPB investment and/or recover their GPB investment losses:

  • GPB Automotive Portfolio, LP
  • GPB Cold Storage LP
  • GPB Holdings, LP
  • GPB Holdings II, LP
  • GPB Holdings III, LP
  • GPB Holdings Qualified, LP
  • GPB NYC Development, LP
  • GPB Waste Management Fund, LP

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Let Us Help You Recover Your GPB Investment Losses!

Christopher Shaw is currently employed by Pruco Securities in Belmont, North Carolina. However, during the period 2011 through 2019, he was employed with Kalos Capital, Inc. in the same city in North Carolina. During Mr. Shaw’s securities industry career as a salesperson, he has been the subject of three customer complaints. All three of those complaints arose in connection with his employment with Kalos Capital. We believe one or more of these complaints relate to Mr. Shaw’s private offer and sale of GPB Capital Holdings sponsored limited partnership interests. All of those matters still appear to be pending.

We are attorneys offering to help GPB  investors who made private placement investments in the following limited partnerships that may have been offered and sold by Mr.  Shaw during his employment with Kalos Capital; that is, help them to rescind their GPB investment and/or recover their GPB investment losses:

  • GPB Automotive Portfolio, LP
  • GPB Cold Storage LP
  • GPB Holdings, LP
  • GPB Holdings II, LP
  • GPB Holdings III, LP
  • GPB Holdings Qualified, LP
  • GPB NYC Development, LP
  • GPB Waste Management Fund, LP

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Let Us Help You Recover Your GPB Investment Losses!

Arni Jay Diamond is currently employed by Dempsey Lord Smith, LLC in Rome, Georgia. During the period July 2013 through September 2018 he was registered with Kalos Capital, Inc. and prior thereto from March 2008 through July 2013 he was registered with Berthel Fisher & Company Financial Services, Inc. During Mr. Diamond’s securities industry career as a salesperson he has been the subject of four (4) customer complaints and filed a Chapter 13 bankruptcy. We believe one of the complaints while he was employed by Kalos Capital, Inc. relates to private offer and sale of GPB Capital Holdings sponsored limited partnership interests which is pending.

We are attorneys offering to help GPB investors who made private placement investments in the following limited partnerships offered and sold by Arni Jay Diamond during his employment with Kalos Capital, Inc.; that is, help them to rescind their GPB investment and/or recover their GPB investment losses:

  • GPB Automotive Portfolio, LP
  • GPB Cold Storage LP
  • GPB Holdings, LP
  • GPB Holdings II, LP
  • GPB Holdings III, LP
  • GPB Holdings Qualified, LP
  • GPB NYC Development, LP
  • GPB Waste Management Fund, LP

According to reliable sources, GPB Capital Holdings’ other funds also reported declines in an estimated value of 25% to 73%. Continue Reading

Robert Wayne Pearce, P.A. is investigating and representing investors nationwide that were sold investments in UBS Financial Services Yield Enhancement Strategy (YES) program.  UBS offered the high-risk YES program to customers whose net worth was at least $5 million.  UBS financial advisers across the United States presented the YES program as a safe way to earn additional income by using existing assets at UBS as collateral.  UBS further represented to its clients that the YES program had “excellent risk metrics” and would allow its clients to increase returns, while reducing risk.  Unfortunately, many UBS brokers failed to adequately understand and/or disclose the risks associated with this high-risk investment program.

It also appears the UBS YES program was mismanaged.  UBS presented its YES program as using a “market neutral” options strategy, which means that it is not a directional wager that the price of the underlying asset will increase or decrease in value. The strategy instead seeks to profit from a relative lack of volatility in the price of the underlying asset.  Contrary to UBS’ presentation of the YES program, we believe the YES managers actively engaged in market timing and took directional positions on the market and suffered significant losses as a result.  We believe the UBS YES program was, in fact, an aggressive options strategy.  Consequently, YES posed a significant risk for investment portfolios, especially those that were over-concentrated in these securities. Continue Reading

Robert Wayne Pearce, P.A. is investigating and representing investors nationwide that were sold steepeners, which are notes or CDs that pay varying levels of interest depending on the steepness or flatness of the yield curve.  When the yield curve flattened in 2018, these steepeners rapidly declined in value and either stopped paying interest or paid much less interest.  In 2019, the yield curve inverted and short term interest rates rose to a higher level than long term interest rates. This yield curve inversion caused even more losses.

The negative impact on investors in the following types of structured products has been significant: Structured CDs, Market-Linked CDs, Leverage Callable CMS Curve Linked Notes, Callable Quarterly CMS Spread-Linked Notes, Callable Variable Rate Range Accrual CDs, Callable Interest Rate Spread CDs, Callable CMS Spread Notes, and Senior Callable CMS Steepener Notes. Continue Reading

Newbridge Securities Corporation (Newbridge) of Boca Raton, Florida submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Department of Enforcement of the Financial Industry Regulatory Authority (FINRA) for allegedly failing to apply sales charge discounts to certain customers’ eligible purchases of unit investment trusts (UITs) in violation of FINRA Rule 2010.

A UIT is a type of Investment Company that issues securities and holds a fixed portfolio. UITS typically offer “break points” which reduce client fees based on the amount invested. FINRA requires that all UIT transactions take place “on the most advantageous terms available to the customer.” FINRA investigators found that Newbridge failed to apply sales discounts to customers resulting in clients paying excessive charges.

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WFG Investments, Inc. of Dallas, Texas submitted a Letter of Acceptance, Waiver and Consent to the Department of Enforcement of the Financial Industry Regulatory Authority (FINRA) for allegedly failing to apply sales charge discounts to curtain customers’ eligible purchases of Unit investment Trusts (UITs). WFG was subject to a similar FINRA complaint in December 2014 which alleged the firm failed to supervise a representative in connection with false statements received by clients.

A UIT is a type of Investment Company that issues securities, typically called “units,” representing undivided interests in a fixed portfolio of securities. UIT units are redeemable securities that are issued for a specific term, and entitle an investor to receive his or her proportionate share of the UIT’s net assets on redemption or at termination. One way to reduce the sales fee charged on a UIT purchase is through “breakpoints” which reduce client fees based on the amount they invested.

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Oriental Financial Services Corp. (OFS) of San Juan, Puerto Rico submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Department of Market Regulation of the Financial Industry Regulatory Authority (FINRA) for allegedly purchasing municipal securities for its own account from customers and then selling those municipal securities to other customers at prices that were not fair or reasonable.

Between July 1, 2013 and September 30, 2013 FINRA investigators found multiple transactions in which OFS was not fair or reasonable to its customers. FINRA alleged OFS failed to take into consideration all relevant factors, including the best judgment of the broker as to the fair market value of the securities at the time of the transaction and of any securities traded in connection with the transaction. Additionally, FINRA alleged that OFS didn’t account for the expense involved in effecting the transaction, the fact that the broker is entitled to a profit, and the total dollar amount of the transaction.

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