Did UBS, Bank Hapoalim or other brokerage firms/banks sell you Lehman Brothers Principal Protected Notes?
On September 15, 2008, Lehman Brothers filed for Chapter 11 bankruptcy protection becoming the largest bankruptcy in U.S. history. Brokerage firms such as UBS and banks such as Bank Hapoalim sold its customers Principal Protected Notes and Partially Protected Principal Protected Notes to its customers. These notes tended to often be linked to an index or stock and in theory should have provided either complete or partial protection of the principal regardless of how the underlying investment would perform. Financial advisors who sold these investments rarely advise their customers that if Lehman Brothers failed then they would become unsecured creditors of Lehman Brothers. In other words, investors in these securities were actually providing an unsecured loan to Lehman Brothers, as opposed to holding the underlying securities as they were told, the problem being that as of late 2007, Lehman Brothers was an over leveraged firm that was on the verge of complete demise. Sonn & Erez believes that financial advisors and their firms misled investors about the risks involved in investing in supposed “principal protected” Lehman Brothers notes and are legally liable for their customer’s losses.
If you believe that you have been misled as to the risk of investing in Lehman Brothers Principal Protected Notes and wish to learn more about our investigation and current cases, please call us at toll free at 1-844-689-5754 or fill out the “contact us” forms.