NEW YORK – The New York law close of Zwerling, Schachter & Zwerling, LLP has filed a balance class-action accusation adjoin UBS Financial Services, Inc., a accessory of Zurich, Switzerland-based UBS AG (NYSE:UBS), as able-bodied as admiral and admiral of Lehman Brothers, based on banking losses suffered by investors who bought balance accepted as arch aegis notes.
Lehman Brothers issued the addendum in catechism with UBS and Lehman confined as the underwriters and sellers. The accusation was filed in the U.S. District Court for the Southern District of New York.
Principal aegis addendum purportedly accommodate investors with aegis for some or all of the arch they advance as able-bodied as a abeyant for a acknowledgment based on the achievement of the basal investment. But note-holders’ investments bigger vanished in September if Lehman Brothers defaulted on the addendum by filing the better defalcation in U.S. history.
In this case, the plaintiff alleges that Lehman Brothers promised investors a complete acknowledgment of arch even while the aggregation knew its own banking bearings was precarious. Lehman Brothers was advancement aggrandized bartering and residential mortgage and absolute acreage assets in accession to ample amounts of leverage, and bootless to crop accomplish to lower its acknowledgment to the abrasion acclaim and mortgage markets or explain such risks to investors.
“Lehman Brothers was affairs these addendum and cogent investors they would get all of their arch back, but they knew that if something went wrong, they wouldn’t be able to authority up their end of the bargain,” says advocate Jeffrey Zwerling, who filed the lawsuit. “And the sad affair is these investors are not alone. There are others who bought addendum from added investment banks and now are in the aforementioned situation.”
The chic action is brought on account of all bodies and entities who, from May 30, 2006, until September 15, 2008 (the “Class Period”), purchased apart obligations accepted as 100% Principal Protection Notes (the “Principal Protection Notes”) that were issued pursuant to Lehman’s Form S-3 Registration Statement, anachronous May 30, 2006 (the “Registration Statement”) and Medium-Term Notes, Series I Prospectus Supplement, anachronous May 30, 2006 (the “MTN Prospectus”), and underwritten and awash by UBS and others, and who were damaged thereby (the “Class”).
If you are a affiliate of the Class, or purchased the Principal Protection Notes, you may administer to serve as advance plaintiff. The advance plaintiff is amenable for administering the case of the action and ensuring that the interests of the chic are protected. You may administer to be appointed advance plaintiff through Zwerling, Schachter & Zwerling. The advance plaintiff borderline is January 5, 2009.
If you ambition to altercate this balance chic action or accept any questions apropos your rights and interests with account to this matter, amuse acquaintance Zwerling, Schachter & Zwerling (Shaye J. Fuchs, Esq. or Willy T. Gonzalez) at 1-800-721-3900 or by e-mail at sfuchs@zsz.com or wgonzalez@zsz.com.
Zwerling, Schachter & Zwerling concentrates in prosecuting chic accomplishments civic on account of investors. The close currently plays a arch role in abundant above balance and circuitous bartering litigations awaiting in federal and accompaniment courts and has offices in New York City, Garden City, N.Y. and Seattle, Wash. The close has been accustomed by courts throughout the country as awful accomplished and accomplished in circuitous litigation, decidedly with account to federal balance class-action litigation. More advice is accessible at www.zsz.com.
For added advice or to allege with Jeffrey Zwerling about the balance class-action case involving UBS and Lehman Brothers, amuse acquaintance Mark Annick at 800-559-4534 (office), 214-213-1754 (mobile) or mark@androvett.com
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