Blog
Update on Lehman Principal Protection Note Investigation
November 14, 2008
On September 15, 2008 Lehman Brothers Holdings filed for bankruptcy protection, leavinf investors who previously purchased the company’s 100% Principal Protection Notes (PPNs) unprotected and at a loss. Funnily enough it was Lehman’s own marketing brochures that touted the notes as providing “100 percent principal protection.” Little did they realize that the value of the […]
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Pennies on the Dollar for Lehman Principal Protection Notes
November 7, 2008
In what could become just the tip of a legal iceberg for UBS, Lehman Brothers and others over sales of Lehman Principal Protection Notes, a class-action lawsuit has been filed in the United States District Court for the Southern District of New York. Among the claims that the plaintiff, Stephen P. Gott, alleges: UBS, Lehman […]
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Sale of Lehman Bros. Principal Protected Notes Trouble for UBS
November 1, 2008
It seems as though another legal battle with investors in the works for Swiss-based investment bank UBS AG – this time over sales of Lehman Brothers Principal Protected Notes, which are now deemed essentially worthless. Structured notes are financial instruments that combine derivatives – including a single security, a pool of securities, options, indices, commodities, […]
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FINRA to Launch Pilot Program to Evaluate All-Public Arbitration Panels
July 24, 2008
The Financial Industry Regulatory Authority (FINRA) will launch a two-year pilot program later this fall that will allow some investors making arbitration claims to choose a panel made up of three public arbitrators instead of two public arbitrators and one non-public arbitrator, as is currently the norm. Six firms – Merrill Lynch, Citigroup Global Markets, […]
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