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UBS to Pay Back $529,688 to UBS Structured Notes Investors

This is a settlement for the UBS Lehman Brothers lawsuit.

New York, NY:A retired couple who invested in UBS structured notes backed by the now defunct Lehman Brothers, will receive $529,688 in damages as ordered by a Financial Industry Regulatory Authority (FINRA) arbitration panel. The panel ordered UBS to buy back the structured notes from Steven and Ellen Edelson. The Edelsons represent the sixth of seven cases FINRA has ordered to be reimbursed, with UBS repaying investors for some or all of their losses.

Some of the Lehman securities were marketed as being a safe investment to investors with a low risk tolerance, and those investments included securities called "100% Principal Protection Notes" while others were called "Return Optimization Securities with Partial Protection." The name implied that investors could not lose money.

The Edelsons bought roughly $3.5 million of structured products between 2006 and 2008, including $529,688 issued by Lehman. However, Lehman went Bankrupt in September 2008, as a result of being too heavily involved in risky, mortgage backed investments.

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Published on Jan-7-11


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