Broker Scott Rosenberg Under Fire For Possible Bad Investment Sales

Soreide Law Group is investigating whether to bring investor disputes involving Scott M. Rosenberg (CRD#: 2754292, New York, New York). Alarmingly, Financial Industry Regulatory Authority (“FINRA”) shows on BrokerCheck that between April 2018 and June 2020, more than 20 investors brought disputes about Rosenberg’s sales practices at UBS Financial Services, where he has worked since 2015 as a securities broker and financial advisor. Let’s take a closer look at some of these recent investor lawsuits.

UBS Client Suggests That Scott Rosenberg Sold Unsuitable Investments

For starters, a client of UBS brought a lawsuit about Scott Rosenberg on June 2020. Mainly, the client suggested that in 2017 and continuing into 2020, the securities broker invested the client in unsuitable options through an overlay strategy. Also, Rosenberg supposedly misrepresented information in connection with the client’s investments. It appears that it was not reasonable or suitable for the client to buy and hold options like Rosenberg suggested. For this reason, the client demanded $250,000 in compensation to offset these unprofitable or poorly performing investments. This claim is reportedly ongoing.

Rosenberg’s Investment Advice Was Unreasonable, Client Indicates

Notably, a second client of UBS brought a complaint to the securities firm’s attention in May 2020 regarding Scott Rosenberg. It seems that he foolishly told the client to commit to an options overlay strategy that conflicted with the client’s goals, risk tolerance or other suitability criteria. It also appears that the securities broker did not accurately represent information which affected the client’s decision to invest. This could have happened through Rosenberg failing to explain risks or downsides of the options. Evidently, Rosenberg’s involvement with the client since May 2018 led to losses. Therefore, the client seeks compensatory relief of $420,000. Apparently, this dispute is ongoing.

UBS Client Brings Lawsuit Over Scott Rosenberg’s Purportedly Misrepresented Options Strategy

Evidently, a UBS client contested Scott Rosenberg’s sales practices through bringing a FINRA Arbitration Claim in May 2020. Apparently, between 2017 and 2020, Rosenberg made unsuitable overlay strategy options recommendations. The securities broker supposedly suggested that the client adopt and maintain this strategy, which led to unnecessary losses. For this reason, the client alleged $3,000,000 in damages. As for now, this matter is unresolved.

Nearly All Investor Claims Seemingly Concern Rosenberg’s Failed Options Overlay Strategy

Evidently, most investor disputes concern the same thing: Scott Rosenberg supposedly failed to have a reasonable basis to believe that his options strategy was appropriate for clients. Significantly, in one dispute, Rosenberg purportedly gave misleading or false information to the client with regard to investment returns. Supposedly, that client was left in the dark regarding risks. In another case, the client indicated that Rosenberg wrongly described the strategy and caused the client to believe that options functioned like insurance products. Apparently, all investor claims are awaiting resolutions.

Losses From UBS Financial Services Broker Scott Rosenberg?

Have you experienced losses by investing with Scott Rosenberg? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel in regard to possibly recovering your investment losses. Soreide Law Group represents clients on a contingency fee basis and will advance all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of financial advisors and securities brokers like Rosenberg.