SAN JUAN, Puerto Rico, Oct. 8, 2013 (GLOBE NEWSWIRE) -- Puerto Rican bond funds offered by UBS Puerto Rico, Popular Securities, Inc., and Santander Securities, Corp have suffered steep declines in recent months. Investor losses on the $70 billion of outstanding bonds continue to mount as Puerto Rico's economy continues to shrink, suffers from high unemployment, and the Puerto Rican government has accumulated large debts.
Gana LLP announces its investigation into UBS Puerto Rico, Popular Securities, and Santander Securities' sales practices to customers concerning their fixed income bond funds. Customers have come forward alleging that their advisors falsely promoted the Puerto Rico bond funds as investments designed for capital preservation, stability, and providing current income. Investors have also claimed that their advisors recommended placing the majority of their assets, sometimes on margin or credit, into the Puerto Rico bond funds placing their entire retirement savings at risk.
The law office of Gana LLP is now handling investor claims involving the following UBS Puerto Rico funds:
- Tax-Free Puerto Rico Fund I-II,
- Tax-Free Puerto Rico Target Maturity Fund,
- Puerto Rico AAA Portfolio Target Maturity Fund,
- Puerto Rico AAA Portfolio Bond Fund I-II,
- Puerto Rico GNMA & U.S. Government Target Maturity Fund,
- Puerto Rico Mortgage-Backed & U.S. Government Securities Fund,
- Puerto Rico Fixed Income Fund I-VI,
- Puerto Rico Investors Tax-Free Fund I-VI,
- Puerto Rico Tax-Free Target Maturity Fund I-II,
- Puerto Rico Investors Bond Fund.
Popular Securities bond funds including:
- Puerto Rico Investors Tax-Free Funds,
- Puerto Rico Tax Free Target Maturity Fund,
- Puerto Rico Investors Flexible Allocation Fund – Income Portfolio,
- Popular Income Plus Fund,
- Popular High Grade Fixed-Income Fund.
Santander Securities funds including:
- First Puerto Rico Tax-Exempt Fund I-VII,
- First Puerto Rico Tax-Advantaged Target Maturity Fund I-II,
- First Puerto Rico AAA Target Maturity Fund I-II,
- First Puerto Rico Target Maturity Income Opportunities Fund I-II,
- First Puerto Rico AAA Fixed-Income Fund,
- First Puerto Rico Intermediate Fixed-Income Fund.
To learn more about your potential Puerto Rico fund claim for recovery please contact Adam Gana at (212) 776-42521 or e-mail AGana@GanaLLP.com . Visit the firm website at www.ganalawfirm.com
Adam Gana (212) 776-42521 www.ganalawfirm.com
