Press release from Business Wire
The Securities Arbitration Law Firm of Klayman & Toskes Continues To Investigate Claims of UBS Customers Who Sustained Losses in the UBS Willow Fund, L.L.C.
Saturday, April 27, 2013
The Securities Arbitration Law Firm of Klayman & Toskes Continues To Investigate Claims of UBS Customers Who Sustained Losses in the UBS Willow Fund, L.L.C.09:00 EDT Saturday, April 27, 2013
NEW YORK (Business Wire) -- The Securities Arbitration Law Firm of Klayman & Toskes (“K&T”), www.nasd-law.com,announced today that it is continuing to investigate claims of UBS Financial Services (NYSE: UBS) customers who purchased the UBS Willow Fund (“Willow Fund”). The Willow Fund is a private hedge fund which was formed in 2000. In October of 2012, investors were notified that the Fund would be liquidated. While many investors were advised that the Fund was a safe, low risk product, the Fund has declined about 80%.
K&T is investigating whether UBS adequately disclosed the risks associated with the UBS Willow Fund, as well as whether investors' portfolios were over-concentrated in the Fund. The individual brokers and advisors who sold the UBS Willow Fund are not the target of this investigation. Instead, K&T is looking into UBS's conduct in connection with its marketing of the Fund to its customers. Further, the law firm is investigating whether the UBS Willow Fund deviated from its disclosed strategy of investing in distressed debt, and instead started speculating in foreign sovereign debt credit default swaps. It is believed that these credit default swaps eventually led to the collapse of the fund, and caused investors to lose a substantial portion of their investment.
In December 2012, a class action lawsuit, case no. 12-civ-9288, was filed on behalf of all investors in the UBS Willow Fund. However, the case was subsequently dismissed without prejudice this past January. Accordingly, investors who sustained losses in the UBS Willow Fund are encouraged to contact K&T to explore their legal rights and options, and should consider filing an individual securities arbitration claim against UBS.
The attorneys at K&T are dedicated to pursuing claims on behalf of investors who have suffered significant investment losses. K&T, an experienced, qualified and nationally recognized securities litigation law firm, practices exclusively in the field of securities arbitration and litigation. It continues its representation of investors throughout the world in securities arbitration and litigation matters against major Wall Street brokerage firms.
If you wish to discuss this announcement or have investment losses of $100,000 or more in the UBS Willow Fund, please contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956 or visit us on the web at www.nasd-law.com.
Klayman & Toskes, P.A.
Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire, 888-997-9956