Steven Steinberg v. UBS Financial Services Inc.
Published: Sep. 11, 2010 | Result Date: Aug. 18, 2010 | Filing Date: Jan. 1, 1900 |Case number: 09-02893 Arbitration – Respondent
Facts
Claimant Steven Steinberg entered into arbitration with respondent UBS Financial Services Inc. regarding the purchase of General Motors Acceptance Corp. Smartnotes and Ford Motor Credit Notes.
Contentions
CLAIMANT'S CONTENTIONS:
Steinberg alleged breach of fiduciary duty, professional negligence, negligent representation, breach of contract, fraud and deceit, as well as violations of FINRA Rules of Fair Practice and breach of duty as a financial advisor or expert.
RESPONDENT'S CONTENTIONS:
USB denied the allegations, asserting various affirmative defenses.
Damages
Steinberg sought $86,000 in compensatory damages as well as interest, fees, costs, and punitive damages.
Result
The arbitrator denied Steinberg's claims.
For reprint rights or to order a copy of your photo:
Email
jeremy@reprintpros.com
for prices.
Direct dial: 949-702-5390