It’s close to two years since the collapse of Lehman Brothers on Sept. 15 that touched off the financial meltdown that plunged economies around the world into the Great Recession.
Our firm is assisting investors who are seeking accountability from the perpetrators of the “Great Deception.”
Vernon Healy currently represents investors with close to $10 million in Lehman “principal protected notes” , reverse convertibles related to Lehman, and other structured products. Brokerage firm UBS sold the principal protected notes as a safe investment. Many investors, including many retirees, were told their Lehman investment was 100 percent “principal protected.”
The disclosure that the SEC investigation of Lehman’s so-called “Repo 105” and “Archstone” deals are heating up is welcome news. Among other things, the “Repo 105” deals allowed Lehman to conceal as much as $50 billion in debt from its balance sheet.
What’s been lost in the coverage of the SEC investigation so far is the fact that UBS, as a counterparty to these Repo 105 deals, knew about the financial problems in play with Lehman. However, UBS continued to push these supposedly safe, “principal protected” and other Lehman structured products on their own clients, even as they saw behind the scenes just how precarious Lehman’s financial solvency had become.
For more information, contact Vernon Healy at (239) 649-5390.