Claim for Recovery of Claymore UIT Investment Losses Filed.

Dec. 31, 2010 - PRLog -- The White Law Group announces that it has filed a Financial Industry Regulatory Authority (FINRA) arbitration statement of claim involving investment losses in a Claymore Unit Investment Trust (UIT).

The claim, filed against Wells Fargo Advisors, LLC (“Wells Fargo”) seeks recovery of investment losses incurred by the investor as a result of Wells Fargo’s investment recommendation.

A unit investment trust is a fixed, unmanaged portfolio or income-producing securities.  Unfortunately, it is often marketed as similar to a bond because you buy a UIT for a specific period of time and it pays income.  

The claim filed by The White Law Group was submitted on behalf of an investor in Pennsylvania and alleges claims for fraud, breach of fiduciary duty, negligence, and negligent supervision. The claim further alleges that Wells Fargo misrepresented the risks of the Claymore UIT investment and represented that the Claymore UIT would provide a steady income stream without any risk of loss to the principal investment.  

Unfortunately for the investor, the underlying assets of the Claymore UIT were invested in various high-risk securities and high-yield (risky) bonds.  Additionally, the investments selected in the Claymore UIT were fixed and could not be changed even though the market at that time was so volatile.

For more information on the claim filed by The White Law Group, please contact the firm’s Chicago office at 312-238-9650.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions.

For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com.

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The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm.