According to published reports, hundreds of investors have filed securities arbitration claims in an effort to recover money lost in closed-end bond funds that were heavily invested in Puerto Rican government bonds. Some of these funds dropped approximately 40% in 2013, devastating investors’ savings.
Investor claims like these are typically submitted to arbitration with the Financial Industry Regulatory Authority (FINRA) due to a binding arbitration agreement the investor signed with their broker when opening their account.
The panel of one or three arbitrators (depending on the size of the claim) will decide whether the investor has a valid securities claim and, if so, will issue an award in favor of the investor which may include attorney’s fees and interest.
Recovery is not guaranteed and aggrieved investors should immediately consult with an experienced securities arbitration attorney about their options. Please contact attorney Mark C. Santi at email@example.com with questions.