Securities arbitration law firm Klayman & Toskes has launched lehmanprincipalprotectionnotes.com, a website targeted at investors who sustained losses from principal-protected notes issued by Lehman Brothers and other Lehman structured products such as Return Optimisation and Auto-call notes. The site provides investors with information on the different recovery options available.
The latest estimates suggest investors filing claims through the Lehman class action lawsuit will only receive around 21 cents for every dollar invested in the notes. Klayman & Toskes tells investors that filing individual arbitration claims is likely to be much more beneficial than participation in the class action suit. A study by the law firm in 2003 found investors filing individual arbitration claims are likely to receive a higher rate of recovery than those in a class action.
Klayman & Toskes continues to file arbitration claims against UBS for losses investors suffered after Lehman Brothers' demise. At the end of September 2011, three claims were filed by the law firm, seeking damages of $710,000.
At the time, Stephen Toskes, founding partner of the law firm, told SRP investors had 'no prior experience' in buying structured products. He claimed investors were not made aware of the risks and therefore had 'no idea' about the credit risk of the investments.