UBS Sued By Investors For Options Misrepresentation

Matthew Stern Buchsbaum of New York New York a stockbroker associated with UBS Financial Services Inc. has been referenced in a customer initiated investment related arbitration claim in which the customer requested $500,000.00 in damages supported by allegations that (1) misrepresentations had been made to the customer in regards to an options overlay strategy implemented in the customer’s account between 2017 and 2019 and (2) the options strategy was not suitable for the customer and caused losses for the customer’s UBS Financial Services account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-03460 (Dec. 5, 2019).

FINRA Public Disclosure reveals that Buchsbaum has been referenced in twenty-one more customer initiated investment related disputes seeking collectively more than $44 million in damages concerning accusations of Buchsbaum’s inappropriate activities when he was associated with securities broker dealers including UBS Financial Services. On August 22, 2019, a customer filed an investment related arbitration claim in reference to Buchsbaum’s conduct where the customer sought $725,000.00 in damages based upon accusations that between 2017 and 2019, the customer had been exposed to unsuitable options trading and was provided with false or misleading information by Buchsbaum in regards to the investment strategy used for the customer’s UBS Financial Services account. FINRA Arbitration No. 19-02012.

Buchsbaum is referenced in another customer initiated investment related arbitration claim on September 19, 2019 in which the customer requested $500,000.00 in damages based upon allegations of misrepresentation and unsuitability with regard to an options overlay strategy. FINRA Arbitration No. 19-02810.

On September 24, 2019, a customer filed an investment related arbitration claim concerning Buchsbaum’s activities where the customer sought $750,000.00 in damages founded on accusations of Buchsbaum’s false or misleading statements and unsuitable recommendations relating to an options strategy used between 2017 and 2019. FINRA Arbitration No. 19-02832.

Buchsbaum is also referenced in a customer initiated investment related arbitration claim in which the customer requested $6,500,000.00 in damages supported by allegations of the customer being misled about investing and provided bad options advice from Buchsbaum. FINRA Arbitration No. 19-03373 (Oct. 28, 2019). Buchsbaum has been registered with UBS Financial Services since November 20, 2015.