Financial markets across the world have taken a tumble in response to the global disruption brought on by the Covid-19 pandemic. Now, as investors suffer immense losses, retaliation comes at the expense of financial advisors with law firms heading up the crossfire.
Law firms Dimond Kaplan & Rothstein (DKR), Zamansky LLC and KlaymanToskes are now investigating sales of UBS Etracs exchange-traded notes (ETNs), particularly claims of potential sales practice violations. They are associated with brokerage firm recommendations and sales of the Etracs ETNs on the basis that they are ‘risky and complex products’. Distributors of these notes include TD Ameritrade and UBS Financial Services. The law firms are targeting ‘notes [that] are senio
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