Puerto Rico Legal News Articles & Interviews

Puerto Rico As investors watch and wonder what else can happen with the Puerto Rico closed-end funds, at least one lawsuit has been filed against the government of Puerto Rico. Meanwhile, experts warn that 2014 could be a bad year for investors, who have already reportedly lost a lot of money in the collapse of the Puerto Rico funds.

New York, NY The numbers are in and it gives pause to consider the motivation of those considering a UBS Puerto-Rico Closed-End Funds lawsuit: the funds lost a total of $1.66 billion in the first nine months of 2013.

San Juan, Puerto Rico Investors who lost money in UBS Puerto Rico closed-end funds likely hope that 2014 will be a better year than 2013. Thanks to the closed-end funds losing 16 percent or more in 2013, many investors are reportedly out a lot of money, with some investigating possible litigation or arbitration claims. Although UBS has offered to buy back shares of the UBS Puerto Rico funds, allegations have still been raised that the funds were marketed as being safer and less risky than they were.

Washington, DC The offer by UBS Financial Services Inc. to buy back shares of its failing Puerto Rico bond funds may serve to foster positive public relations. However, in the wake of a massive loss of 16 percent or more in the fund’s value over the course of 2013, the question remains if the offer will sufficiently placate investors.

Puerto Rico Investors who put money in certain UBS Puerto Rico closed-end funds have reportedly filed complaints against UBS. The investors allege the closed-end funds were marketed as safe investments, but some investors allege they lost 60 percent or more of their investment in a short time. At issue is whether the investments were marketed as far safer than they actually were and whether the closed-end funds were suitable investments for some investors.

Puerto Rico Investors who purchased UBS Puerto Rico closed-end funds may have experienced a dramatic, unexpected drop in the value of their accounts. Christopher Gray, senior attorney at the Law Office of Christopher J. Gray, PC, says some investors may have believed certain UBS Puerto Rico funds were safe investments, when in fact they were allegedly far riskier than investors thought.