CASE NO. 20-03990
Rick McCormick, Pamela McCormick and the Lindsay McCormick 2013 Gift Trust v UBS Financial Services, Inc.
Erez Law represented Rick McCormick, Pamela McCormick and the Lindsay McCormick 2013 Gift Trust against UBS and recovered $1.1M. The case stems from the sale by UBS to the McCormicks of its proprietary YES investment strategy. UBS promoted and marketed YES as a low risk options overlay strategy that would generate additional income. In fact, YES was a high risk, directional and aggressive iron condor strategy that failed. The panel awarded $900,000 in compensatory damages, $56,717 in costs and $225,000 in attorney’s fees. In total, the panel awarded nearly 100% of our clients’ losses.