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Fla. law firm probes P.R. muni bond recommendations

tepperTampa-based Mark A. Tepper securities law firm announced Monday it is investigating alleged claims against brokers and financial advisors for recommending Puerto Rico General Obligations (GO) and/or Puerto Rico municipal bonds.

The list includes: Puerto Rico Government Development Bank (GDB); Puerto Rico Sales Tax Financing Corp. (COFINA); Puerto Rico Public Finance Corp. (PFC); and, Puerto Rico Aqueduct & Sewer Authority (PRASA) securities.

“If a broker either recommended that customers purchase any of these bonds or, in response to their concerns, recommended a ‘hold,’ we want to hear from those customers,” attorney Mark A. Tepper, the former chief trial counsel at the New York Attorney General’s Bureau of Investor Protection and Securities, said.

“If you have information on any Puerto Rico municipal bonds or a potential claim for recovery, contact the law firm of Mark A. Tepper P.A., at [email protected] or telephone 954-961-0096 for a free case evaluation,” the firm said, noting it accepts clients with losses in tax-free Puerto Rico municipal bonds.

Puerto Rico defaulted on July 1, 2016 on $1 billion dollars of triple tax-free Puerto Rico municipal bonds sold in all 50 U.S. states or overseas. The default included $819 Million in principal and interest on GO bonds.

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This story was written by our staff based on a press release.

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