Ahmed Hussein, a former UBS investor, lost more than $20 million after UBS called the Quality System loan against a health-care information systems company on margin. The company began to lose money in 2012, and Mr. Hussein was a Quality System director. UBS then quickly sold its stock. The arbitration panel that decided the case did not give a reason for its decision, but ruled that UBS must pay Mr. Hussein $2 million with no other damages or legal fees. Mr Hussein had been with UBS since 2009. He also claimed that UBS sold some shares of his in July 2012 without his authorization or knowledge of the transactions. He then claimed this caused Quality System’s stock to fall even farther, deepening his losses. He resigned from the board in 2013.
UBS can be held liable for investment losses. If you have suffered losses with them, or other brokerage firms, we may be able to help. We are securities attorneys who concentrate on recovering money for investors. 312-332-4200.