In a single week, Vernon Litigation Group filed multiple claims on behalf of individual investors totaling approximately $5 million in losses against various national financial firms. All the clients are from Florida.
What is particularly significant about these cases is the trend they represent. Specifically, while they involve different products (money market alternatives, structured notes, municipal bonds, and preferred stocks) and different firms (Smith Barney, UBS, Schwab), they all share a common theme: these products(such as Schwab YieldPlus Fund and various Lehman Notes) were not pitched as high risk/high return products. Rather, they were recommended as ways for the investors to avoid risk.
Read the related Naples Daily News article and interview with Vernon Litigation Group attorney Chris Vernon here.