Oriental Financial Services Corp., which operates as a subsidiary of Oriental Financial Group Inc., is currently being investigated by Soreide Law Group, based in Ft. Lauderdale, Florida, on behalf of several clients who have suffered substantial losses in the risky Puerto Rican municipal bond funds. Headquartered in San Juan, Puerto Rico, Oriental Financial offers financial services to clients in Puerto Rico and Florida.
Recently, The Financial Industry Regulatory Authority, FINRA, announced that is actively recruiting more arbitrators in Puerto Rico to handle the high number of cases that are being filed. FINRA can also send their arbitrators from Florida or other nearby states.
Many of the law suits filed are alleging unsuitability, over-concentration of funds, excessive and inappropriate use of leverage, all stemming from Puerto Rican Bond Funds losses and other investments that have a high credit risk, interest rate risk, and exposure to the volatile and unstable Puerto Rican economy. The value of these investments have plummeted and will continue to fall as interest rates rise.
Soreide Law Group, and attorney Lars Soreide, are actively filing cases against broker/dealers for the substantial losses sustained by Puerto Rican Bond investments. Call (888) 760-6552, for a free consultation if you invested in Puerto Rico Bond Funds.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.