Legal action spreads to losses on Lehman exchange-traded notes

Florida law firm Colling Gilbert Wright & Carter is examining options for investors who have lost money in Lehman ETNs, and has already filed two arbitration cases regarding Lehman products with the Financial Industry Regulatory Authority. Several brokers, including UBS, are being investigated by lawyers on the basis that products they sold were misrepresented. "With ETNs, regardless of what the play was, it was still unsecured Lehman debt and they didn't disclose that properly," says Willia