Article: Big Short: UBS, Top Broker Face $23 Million Claim over Tesla Trades

Article - Media, Publications

Big Short: UBS, Top Broker Face $23 Million Claim over Tesla Trades

Miriam Rozen, 26 April 2021

A UBS financial advisor in Madison, Wisconsin who oversees a 35-person team “repeatedly promoted the idea of short selling” shares of the electric car company Tesla, Inc., triggering more than $23 million in losses for four couples—all members of an extended family—and another investor, according to an arbitration claim filed with the Financial Industry Regulatory Authority.

The complaint cites Tesla short-selling recommendations–betting on the stock price’s decline–allegedly made in 2019 and 2020 by Andrew Burish, a 38-year industry veteran who started at UBS in 1984 and leads The Burish Group, one of the firm’s largest and most profitable teams in the Midwest. The team employs 14 advisors and manages more than $4 billion in client assets, according to its website. Continue reading “Article: Big Short: UBS, Top Broker Face $23 Million Claim over Tesla Trades”

Article: Lawyers Line Up to Sue Merrill Lynch for Alleged Deceptive Trading Practices in Commodities

Article - Media

Lawyers Line Up to Sue Merrill Lynch for Alleged Deceptive Trading Practices in Commodities

Miriam Rozen

29 July 2019

Join the queue if you are a plaintiff lawyer considering filing a proposed class action lawsuit against Merrill Lynch’s parent company, Bank of America, related to allegations of deceptive trading practices in the commodities markets.

Multiple plaintiff lawyers filed at least three such lawsuits in recent weeks after federal prosecutors secured a June 25 deal with another BofA unit, Merrill Lynch Commodities, to pay $25 million to resolve their investigation into alleged deceptive trading practices.

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