SOURCE: Klayman & Toskes

November 13, 2008 10:53 ET

Notice From the Securities Law Firm of Klayman & Toskes to All UBS Customers Who Purchased Lehman Brothers Principal Protection Notes

NEW YORK, NY--(Marketwire - November 13, 2008) - The Securities Law Firm of Klayman & Toskes, P.A., www.nasd-law.com, announced today that a class action lawsuit, Case No. 08-cv-09578, has been filed against UBS Financial Services, Inc. (NYSE: UBS) on behalf of investors who purchased Lehman Brothers Principal Protection Notes ("Lehman Principal Protection Notes") from UBS. Potential class members who purchased Lehman Principal Protection Notes from UBS should consider whether they should participate in the class action or file an individual securities arbitration claim.

Since the claim was filed, Klayman & Toskes has received numerous inquiries from UBS customers who sustained losses in Lehman Principal Protection Notes. Accordingly, Klayman & Toskes will be continuing to pursue claims on behalf of investors who have suffered losses in the Lehman Principal Protection Notes.

According to the Complaint, UBS made material misstatements and omissions relating to the Lehman Principal Protection Notes, and misled investors into believing that these Notes were safe and secure investments. Further, the Complaint alleges that UBS offered and sold Lehman Principal Protection Notes as suitable for investors seeking to protect their entire principal investment. Lehman defaulted on many of these Notes several months ago and they have not traded since. With the bankruptcy of Lehman Brothers, investors may stand to lose all or substantially all of their principal investments.

Klayman & Toskes reminds investors of the benefits of filing an individual arbitration claim, as opposed to participating in a class action lawsuit. By participating in a class action lawsuit, an investor will most likely recover only pennies on the dollar. However, if one has experienced significant investment losses losses, it may be more beneficial for them to file an individual securities arbitration claim. In 2003, Klayman & Toskes conducted a detailed study of securities arbitration versus class action. The study concluded that investors who file a securities arbitration claim traditionally obtain an overall higher rate of recovery as opposed to participating in a class action lawsuit. To view the full results of the comparison, please visit our web-site: http://www.nasd-law.com/documents/classvr.pdf

The attorneys at the Law Firm of Klayman & Toskes are dedicated to aggressively pursuing claims on behalf of investors who have suffered significant losses. Klayman & Toskes, 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 information relevant to our investigation, 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 http://www.nasd-law.com.

Contact Information

  • Contact:
    Steven D. Toskes, Esquire
    Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A.
    888-997-9956
    http://www.nasd-law.com.