The Securities Law Firm of Menzer & Hill, P.A., www.suemyadvisor.com, announced today it filed an arbitration claim against UBS Financial Services, Inc. (“UBS”), (NYSE: UBS) on behalf of an investor who lost the vast majority of his retirement savings as a result of the purchase of Lehman Brothers principal protected notes (“Notes”).  The claim alleges UBS was negligent and engaged in gross misconduct by misrepresenting and omitting material facts regarding the Notes.

UBS marketed the Notes as safe, secure, investments without informing the purchasers of the true risks associated with the Notes, including the fact that the Notes were tied to the credit worthiness of the guarantor, Lehman Brothers.   Furthermore, based on the examiner’s report of the Lehman Brothers bankruptcy, UBS engaged in short term lending transactions with Lehman Brothers known as Repo 105 transactions on a fully collaterized basis, while its trading force continued to solicit purchases of the Notes which contained 100% risk.  When Lehman Brothers filed for bankruptcy, the values of the Notes became essentially worthless. 

If you have purchased Lehman Brothers Notes or have sustained any other investment losses, the attorneys at the Securities Law Firm of Menzer & Hill, P.A. are dedicated to pursuing claims on behalf of investors who have suffered investment losses as a result of broker misconduct. 

For a free case evaluation or to discuss this matter, please contact the Securities Law Firm of Menzer & Hill, P.A., at 888-923-9223, or visit us on the web at www.suemyadvisor.com

The court-appointed trustee liquidating Bernard Madoff's former investment firm has filed a lawsuit against HSBC for $9 billion for allegedly aiding the most massive Ponzi scheme in history.

The trustee, Irving Picard, alleged that London-based HSBC Holdings PLC (HBC) enabled Madoff's fraud "through the creation, marketing and support of an international network of a dozen feeder funds based in Europe, the Caribbean, and Central America," in a statement released Sunday.

He claimed that HSBC and the feeder funds funneled more than $8.9 billion to Madoff's fraudulent investment advisory business, and earned hundreds of billions of dollars despite being "well aware" of the fraud after accounting firm KPMG twice notified the bank of "serious risks."

"Had HSBC and the defendants reacted appropriately to such warnings and other obvious badges of fraud outlined in the complaint, the Madoff Ponzi scheme would have collapsed years, billions of dollars, and countless victims sooner," Picard said in the statement.

David Sheehan, counsel for the trustee, said HSBC and the feeder funds' "financial sophistication" gave them insight to Madoff's scheme "long before his confession and arrest," but "each possessed a strong financial incentive to participate in, perpetuate and stay silent about Madoff's fraudulent scheme."

Hundreds of hungry families lined up outside the Pendás Law Firm’s Orlando office early Tuesday morning, hoping to receive a free Thanksgiving turkey.

Starting at 8 a.m., attorney Lou Pendás and a group of volunteers began handing out frozen turkeys to the first 1,000 families in line, no questions asked.

Pendás said anyone could come and line up for a free turkey at his office, on East Colonial Drive.

But the giveaway was intended for families in need first and foremost, so organizers said they trusted Central Floridians to abide by the honor system.

The first few people in line showed up outside the law office around 3 a.m. Tuesday, hoping for a free holiday meal during an especially rough year.

It’s the second consecutive year the Pendás Law Firm gave away tons’ worth of turkeys.

Lou Pendás said he originally came up with idea after a number of clients told him they were worried about struggling during the holidays.

The day before the giveaway in Orlando, Pendás and his family handed out another 1,000 frozen birds at his firm’s Tampa office.

A new report shows the boycott of Arizona in the wake of a controversial immigration law has cost the state more than $140 million.

The analysis commissioned by the Center for American Progress says lost hotel revenue in the first four months after the bill signing was about $45 million. The state also lost $96 million that visitors would have spent during their stays.

The study released on Thursday says meetings and conventions will probably continue to be lost for more than a year. That will multiply the impact of a boycott called by immigrant-rights groups after Republican Gov. Jan Brewer signed the state's new law in April.

The study was paid for by the group, a liberal-leaning think tank, but conducted by the respected Scottsdale-based economic firm Elliott D. Pollack & Co.

Minnesota Gov. Tim Pawlenty, a potential GOP presidential candidate, stepped up his attack Thursday on President Barack Obama's federal health care law with a court filing challenging its cost to states.

Pawlenty and Rhode Island Gov. Donald Carcieri, both Republicans leaving office soon, joined in the federal court filing in Pensacola, Fla.

A judge there ruled last month that parts of a lawsuit filed by 20 other states challenging the health care overhaul can go to trial. The two governors' filing seeks permission to submit a friend-of-the-court brief in support of the lawsuit.

The filing, written by a Washington lawyer from the Competitive Enterprise Institute, said the governors are safeguarding their citizens from "federal abuse of the spending power." They argue the law places liabilities on states through a Medicaid expansion.

"Although the Act indicates that the federal government will initially pay for some Medicaid expansions, the states are advised that they will pay for 10 percent of some unspecified costs in four years, and there is no indication that the states will not pay more in succeeding periods," the governors' document said.

Pawlenty has been vocal in his opposition to the law. He has said he would make repealing it a focal point of a run for president in 2012 if he wages a campaign. Pawlenty has ordered state agencies to avoid discretionary grants related to the health law.

Court-appointed defense attorneys in Wisconsin say they deserve a raise, and they're asking the state Supreme Court to help make it happen.

But the justices say it's up to state lawmakers to make that decision.

Court-appointed lawyers represent defendants who can't afford to hire their own. Defense attorneys say the current $40-per-hour rate doesn't attract quality lawyers. They say that leaves the poor with inadequate representation.

Madison attorney John Skilton says those defense attorneys should make $80 per hour, with annual increases tied to the consumer price index.

Wisconsin Public Radio says lawmakers have refused to raise the rate. Justice David Prosser says lawmakers won't change their minds just because the state's high court asks them to.