Melinda Joyce Abood of New York New York a stockbroker currently registered with UBS Financial Services is the subject of a customer initiated investment related written complaint on April 21, 2020 where the customer requested $42,000.00 in damages founded on allegations that the customer’s investment instructions were not followed concerning securities held in their UBS Financial Services account between March 14, 2018 and April 21, 2020. According to the complaint, the customer was sold bonds issued by Ford when important information concerning Ford’s credit rating had been concealed from the customer.
Abood has been identified in four additional customer initiated investment related disputes containing accusations of her improper conduct while she was registered with Shearson Lehman Hutton, PaineWebber and UBS Financial Services. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that a customer initiated investment related complaint concerning Abood’s conduct was resolved for $70,000.00 in damages based upon allegations that the PaineWebber customer’s account had been mismanaged and that transactions were not consistent with the customer’s investment goals.
Another customer initiated investment related FINRA securities arbitration claim involving Abood’s activities was settled for $20,000.00 in damages supported by accusations that unauthorized trades were effected in the customer’s account and that the customer was placed into unsuitable options while Abood was associated with Shearson Lehman Hutton.
Abood is also the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer was awarded $123,471.57 in compensatory damages based on PaineWebber being found liable on the customer’s claim of breach of fiduciary duty by the stockbroker while she was registered with PaineWebber. The claim indicates that options trades were unsuitable given the customer’s objectives. Trades were allegedly placed in the customer’s account on an excessive basis. The claim also alleges that misrepresentations had been made by the stockbroker.
On March 28, 2018, another customer initiated investment related complaint regarding Abood’s conduct was resolved for $37,500.00 in damages founded on allegations that the customer was provided with false information concerning the safety of municipal bonds and had been falsely told that the investments did not expose the customer’s principal to risk.
Abood has been registered as a stockbroker of UBS Financial Services since April 23, 1986 and registered as an investment adviser representative of the firm since March 29, 2012.
