International investors are contacting US lawyers for help on losses arising from Lehman Brothers-backed principal-protected notes, according to Florida-based law firm Vernon Litigation Group. 

The firm has seen a sudden increase in complaints recently, one year after the collapse of the US investment bank, and US-based lawyers have received requests from investors in Russia, Central and South America, Germany and Asia for assistance in action over the sale of principal-protected Lehman notes by both UBS and Citi.

Brokers that worked within the distribution arms of banks that distributed investments underwritten by Lehman are now also stepping up their complaints against the banks they worked for regarding how structured products were pitched to them as safe investments for their clients' portfolios.

Vernon Litigation Group is due to go to final arbitration in a Lehman structured note case against UBS in December, which has been filed with the US Financial Industry Regulatory Authority on behalf of an investor.

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