Investors Sue UBS For Defective Options Strategy

stockbrokerfraud7 - Investors Sue UBS For Defective Options Strategy

Mark Laing Lichtenfeld of Florham Park New Jersey a stockbroker formerly employed by UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $850,000.00 in damages founded on allegations that (1) the customer had been provided bad advice from Lichtenfeld concerning an options overlay strategy and (2) false or misleading statements had been made by the stockbroker concerning the strategy. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-01076 (May 29, 2019).

FINRA Public Disclosure confirms that Lichtenfeld is referenced in three more customer initiated investment related disputes containing accusations of his wrongdoing while registered with securities broker dealers including Tucker Anthony Sutro and UBS Financial Services Inc. Specifically, a customer initiated investment related arbitration claim concerning Lichtenfeld’s conduct was settled to resolve allegations that inappropriate investment recommendations had been made by the stockbroker which caused the customer to experience losses on WorldCom stock positions.

Another customer filed an investment related complaint regarding Lichtenfeld’s activities in which the customer sought $300,000.00 in damages based upon accusations of his unauthorized transactions; false statements about the customer’s account; and churning of the customer’s investment portfolio during the period in which the stockbroker was associated with UBS Financial Services Inc.

Another customer filed an investment related arbitration claim involving Lichtenfeld’s conduct where the customer requested $360,000.00 in damages supported by allegations that between 2016 and 2019, misrepresentations had been made in regard to an investment strategy involving options trading; and the strategy failed to be suitable for the customer. FINRA Arbitration No. 19-01075 (May 17, 2019).

Lichtenfeld’s registration with UBS Financial Services Inc. has been terminated as of January 21, 2019. Since January 9, 2019, he has been employed by Purshe Kaplan Sterling Investments.