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UBS Puerto Rico Investors Tax-Free Fund

Puerto Rico Investors May Recover Losses Sustained in UBS Puerto Rico Investors Tax Free Funds

There may be hope for investors to recover their losses who were advised by UBS Financial Services of Puerto Rico to invest in UBS Puerto Rico Investors Tax Free Funds. UBS Financial Services of Puerto Rico is obligated to avoid anymisrepresentations or omissions of materials facts concerning investment recommendations. As the syndication underwriter for the UBS Puerto Rico Investors Tax Free Funds, UBS is required to give unbiased, accurate information and refrain from providing unsuitable investment advice. UBS Financial Services of Puerto Rico is required to supervise the activities of its financial advisors and investment losses that are the result of unsuitable investment recommendations can be attributed to the failure to supervise its financial advisors.

UBS Financial Services of Puerto Rico, as underwriter, is required to conduct adequate due diligence to determine the accuracy of information provided by the Prospectus and Offering documents, including the risks associated with leverage and the ability manage and hedge these risks. UBS Financial Services of Puerto Rico failed to disclose excessive markups and markdowns charged for the management of the proprietary closed-end funds which was the result of conflicts of interest between UBS, third-parties and Puerto Rico investors.

UBS Financial Services of Puerto Rico reported the Net Asset Values for the following closed-end funds managed by UBS Asset Managers and Popular Asset Management as of February 19, 2014:

  • Puerto Rico Investors Tax-Free Fund, Inc. ($3.81)
  • Puerto Rico Investors Tax-Free Fund II, Inc. ($3.66)
  • Puerto Rico Investors Tax-Free Fund III, Inc. ($4.09)
  • Puerto Rico Investors Tax-Free Fund IV, Inc. ($3.56)
  • Puerto Rico Investors Tax-Free Fund V, Inc. ($3.96)
  • Puerto Rico Investors Tax-Free Fund VI, Inc. ($4.70)
  • Puerto Rico Investors Bond Fund I, Inc. ($4.14)

Why Pursue a FINRA Securities Arbitration Claim?

According to the Financial Industry Regulatory Authority (FINRA), unsuitable investment advice, securities concentration, failure to supervise the activities of its financial advisors, and fraudulent misrepresentations and omissions of material facts are causes of action that are available to investors against UBS Financial Services of Puerto Rico or Popular Securities and their respective financial advisors in an individual securities arbitration claim filed with FINRA. Investors also may pursue claims for violations of the Puerto Rico Uniform Securities Act by UBS Financial Services of Puerto Rico.