Weir v. UBS
May 25, 2022OUTCOME: We recovered every dollar our client lost, and the FINRA arbitrators also ordered UBS to pay our attorneys' fees, to reimburse our clients for expert witness fees, and to pay all FINRA hearing fees. The total award was for more than $1.4 million.
UBS recommended and sold to our client UBS's in-house Yield Enhancement Strategy ("YES"). YES is a complex options strategy that we alleged UBS marketed as a low-risk way to obtain a modest amount of i ... ncome. We further alleged that, contrary to UBS's representations, UBS's YES investment product exposed our clients to significant risk of loss, that UBS painted a misleading picture about YES's purported safety, and that UBS failed to truthfully disclose all risks associated with YES. Our clients lost nearly $1 million in this supposedly low-risk investment.