Chicago-based Stoltmann Law Offices is representing investors who’ve suffered losses from investing in options strategies that went wrong. Along those lines, an arbitration panel recently ordered UBS to pay more than $1.4 million to a husband and wife who accused the bank of misrepresenting a complex YES options trading strategy that tanked, according to barrons.com.
“Dozens of investors have filed arbitration claims against UBS for alleged misrepresentations in how the strategy was marketed and implemented. A customer has also filed a lawsuit against the company seeking class action status,” Barrons reported. UBS, which has previously denied the allegations, has won some arbitration cases, but lost others.
Approximately 1,500 customers participated in the YES strategy. Assets invested in YES accounts ballooned to $5.7 billion in December 2018, according to the lawsuit seeking class action status. The strategy suffered substantial losses totaling about $1.2 billion, according to the lawsuit.