NEW YORK, April 9, 2009 (GLOBE NEWSWIRE) -- The Securities Law Firm of Shepherd Smith Edwards & Kantas LLP, www.sseklaw.com, is currently investigating claims on behalf of purchasers of so called "structured products" created by the now defunct brokerage firm Lehman Brothers. These products, also known as "structured notes" or PPNs (principal protected notes) are essentially financial instruments that combine derivatives with fixed income and/or equities, resulting in a product that was supposed to provide the safety of fixed income with the upside of the stock market. To date, the firm of Shepherd Smith Edwards & Kantas has filed several claims for consumers who were invested in these products.
These structured notes were typically marketed to conservative investors seeking preservation of capital, a reasonable yield and the potential for a modest gain in principal. In fact, major brokerage houses, including UBS (NYSE:UBS), Charles Schwab (NASDAQ:SCHW), Neuberger Berman and others, marketed these products to some of their best and most conservative clients. In reality, these investments were being used by Lehman Brothers, and other brokerage firms, to help finance their operational shortfalls. As a result, purchasers who our investigation has uncovered, rarely even knew there was an issuer involved other than their brokerage firm, were immediately subject to the credit of the issuer and if the issuer were to default, the investment could become worthless. In the case of Lehman Brothers structured notes, it appears this could be the case.
If your financial advisor recommended the purchase of a Lehman Brothers structured note, or any structured product that failed, the law firm of Shepherd Smith Edwards & Kantas would like to hear from you.
Shepherd Smith Edwards & Kantas LLP has a team of attorneys, consultants and staff with more than 100 years of combined experience in the securities industry and in securities law. Since 1990, we have represented thousands of investors nationwide to recover losses. We have represented clients in Federal and state courts and in arbitration through the Financial Industry Regulatory Authority (FINRA), the New York Stock Exchange Inc. (NYSE), the American Arbitration Association (AAA) and in private arbitration actions. Collectively, we have represented over 1,000 investors during the last 18 years in negotiation, mediation, arbitration and litigation against brokerage firms.