UBS and former UBS Broker William Hobby put Claimants in Harm’s Way - Customer Claim filed by Mark Tepper law firm alleges


FT. LAUDERDALE, Fla., April 08, 2019 (GLOBE NEWSWIRE) -- The law firm of Securities Fraud Attorney Mark A. Tepper has filed claim against UBS [NYSE: UBS] on behalf of a Georgia couple who entrusted their inheritance and retirement accounts to UBS and its broker William D. Hobby. The Claim for damages also seeks recovery of losses that the couple suffered.

Among the Claim’s allegations is that UBS changed Claimants’ risk profiles to aggressive high risk, to match and conceal the broker’s unsuitable speculative high risk recommendations and trading in Claimants’ accounts. “UBS originally recorded Claimants’ risk profile as moderate,” the Claim alleges.

“The broker’s disciplinary history at UBS shows a pattern of similar misconduct committed against other unsuspecting victims. If UBS exercised reasonable supervision, UBS would have detected and prevented violations of FINRA’s consumer protection rules,” the Claim contends.

“The broker concentrated Claimants’ accounts in high risk development stage biotech as well as high risk, highly leveraged oil and gas, rather than diversify the investments in their retirement accounts,” the Claim alleges. These included CEMPRA, INC. (CEMP), LinnCo, LLC, Breitburn Energy Partners LP (Breitburn) and high risk income funds, the Claim further alleges.

If you have information related to the Claim against UBS or William Hobby, or your broker made unsuitable recommendations, contact attorney Mark Tepper at or call (954) 961-0096 for a free case evaluation from the Mark A. Tepper law firm. “Investors who believe they’ve been defrauded should always investigate their legal rights to determine the merits of potential claims,” Mr. Tepper said.

About Mark A. Tepper, P.A. (            
Attorney Mark A. Tepper is the former Chief Trial Counsel at the New York Attorney General’s Bureau of Investor Protection and Securities. He has earned the reputation of “Investor Advocate” while practicing law for over 40 years representing individual investors. FINRA arbitrators have upheld stockbroker fraud claims filed by Mr. Tepper against many brokerage firms. A member of the Florida, New York and California Bars, Mr. Tepper is peer-reviewed for 18 consecutive years, AV PREEMINENT® for ethical standards and legal ability, the highest rating of lawyers in the Martindale-Hubbell Law Directory.

Mark Hopkinson, NewsMark Public Relations