NH Couple Files Claim Against UBS Over Structured Warrants

July 10, 2009
By Kathy Shwiff
Dow Jones Newswires

A retired New Hampshire couple filed an arbitration claim against UBS AG (UBS) , saying they lost money because of the brokerage firm’s unsuitable investment recommendation.

The claim was filed with the Financial Industry Regulatory Authority’s Department of Arbitration, according to the law firm of Klayman & Toskes, which is representing the couple.

FINRA couldn’t be reached for confirmation.

The couple said that at the direction of their UBS adviser, they invested about $250,000 in structured warrants, which were represented as safe, low-risk investments.

They weren’t told the warrants were speculative investments that were highly illiquid and risky, according to the claim.

UBS representatives couldn’t be immediately reached for comment.

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