UBS Sued By Investors For Misrepresentation
John Robert Morris of Warren New Jersey a stockbroker currently employed by UBS Financial Services Inc. has been identified in a customer initiated investment related arbitration claim which was resolved for $25,000.00 in damages founded on accusations that (1) misrepresentations had been made to the customer concerning investments in oil and gas securities and Puerto Rico municipal bonds (2) transactions effected in the customer’s account were not suitable for the customer and (3) the customer’s investment portfolio was overconcentrated in speculative investments when Morris was employed by UBS Financial Services. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-00505 (Oct. 11, 2019).
Morris is referenced in three more customer initiated investment related disputes containing allegations of his wrongdoing while associated with securities broker dealers including Morgan Stanley DW Inc., PaineWebber and UBS Financial Services. FINRA Public Disclosure reveals that a customer initiated investment related complaint involving Morris’ conduct was settled for $15,500.00 in damages based upon allegations of the customer being misled by the stockbroker and provided with bad investment advice when Morris was associated with PaineWebber.
Another customer filed an investment related complaint pertaining to Morris’ conduct in which the customer requested $17,000.00 in damages supported by allegations of the customer’s instructions pertaining to FHLMC notes being disregarded by Morris.
The stockbroker is also referenced in a customer initiated investment related arbitration claim where the customer sought $330,000.00 in damages based upon accusations that speculative energy sector securities trades were not suitable for the customer and that the risks of those investments were not disclosed. FINRA Arbitration No. 19-00782 (Mar. 21, 2019).
Morris has been registered with UBS Financial Services since May 13, 2011.