Dimond Kaplan & Rothstein, P.A Secures Victory Against UBS

Dimond Kaplan & Rothstein, P.A. is pleased to share news of another win again UBS Financial Services for DKR’s clients who suffered losses in UBS’s Yield Enhancement Strategy (“YES”).

UBS to Pay More Than $800,000

UBS Financial Services must pay approximately $850,000 to two couples who lost money in UBS’s Yield Enhancement Strategy. The investors alleged that UBS marketed YES — which was a complex options strategy — as low-risk way to generate modest income. DKR demonstrated that YES actually exposed investors to significant risk of loss. UBS represented that its YES strategy would protect investors from significant downward moves in the stock market, but YES actually exposed investors directly to the stock market. A significant stock market decline in December 2018 caused DKR’s clients to suffer hundreds of thousands of dollars in unanticipated losses. 

DKR’s clients asserted that UBS was guilty of negligence, breach of fiduciary duty, breach of contract, and negligent supervision regarding the recommendation, sale, and oversight of the YES options strategy.

Jeffrey B. Kaplan of the law firm Dimond Kaplan & Rothstein, one of the attorneys representing the investors said, “We believe the arbitrators did the right thing. They saw the wrong as we did, and they did what they could to right that wrong by issuing a full award.” 

The FINRA arbitration panel ruled that UBS must compensate DKR’s clients for their entire YES losses of $691,206, as well as pay $115,000 in pre-judgment interest, and $40,000 in expert witness fees. The arbitrators also ordered UBS to pay the arbitrators’ fees.

This is the Largest YES Award to Date

This was not the first time that a FINRA arbitration panel had resolved a dispute involving UBS’s YES options strategy in recent months. While some other FINRA arbitration panels have awarded damages to YES investors, others have denied investors’ claims. This most recent YES award is the second one in which FINRA arbitrators have awarded 100% of the investors’ losses and is the largest YES award issued to date, so this win is a vote of confidence for those who have experienced losses. 

YES Loss Recovery Through FINRA Arbitration

YES investors can file FINRA arbitration claims to recover their losses. FINRA arbitration is a private dispute resolution process that generally is more cost and time efficient than a court proceeding.

If you lost money in the UBS YES options strategy contact Dimond Kaplan & Rothstein, P.A. DKR represents many YES investors throughout the United States and has extensive experience representing investors who have lost money in risky option strategies. 

Speak to a UBS YES Attorney at DKR Today

With offices in Miami, Los Angeles, West Palm Beach, New York, and Naples, DKR represents investors nationwide and throughout Latin America in brokerage firm misconduct and stockbroker negligence cases.

Contact one of our experienced securities lawyers today for a FREE case review to discuss your rights and options. We will fight for your rights!

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