Greg Grajek of San Diego California a stockbroker employed by UBS Financial Services Inc. is the subject of a customer initiated investment related civil action where the customer sought $9,049.78 in damages supported by accusations of the failure to follow the customer’s instructions concerning penny stock investments which led to the customer’s positions having been sold for a reduced value. Civil Action No. 37-2018-00023815 (May 17, 2018).
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Grajek is referenced in four more customer initiated investment related disputes pertaining to allegations of his violative conduct during the time that he was associated with UBS Financial Services Inc. and Morgan Stanley & Co. Incorporated. Specifically, on July 30, 2007, a customer filed an investment related complaint regarding Grajek’s conduct where the customer requested damages estimated to exceed $5,000.00 founded on accusations that Grajek effected unit investment trust transactions in the customer’s account that the customer did not authorize.
On October 29, 2008, another customer filed an investment related complaint involving Grajek’s activities in which the customer sought $12,625.00 in damages supported by accusations that misrepresentations had been made to the customer concerning closed-end funds, and those investments were not suitable for the customer. Subsequently, a customer initiated investment related civil action involving Grajek’s conduct was settled for $1,500,000.00 in damages based upon allegations that Grajek breached a fiduciary duty to the customer and misappropriated the customer’s funds and assets. Civil Action No. 37-2008-00051379-CU-FR-NC (Apr. 13, 2010).
Thereafter, a customer initiated investment related arbitration claim regarding Grajek’s activities was resolved for $140,000.00 in damages founded on allegations that between April of 2013 and 2016, Grajek breached his fiduciary duties, made misrepresentations to the customer, negligently serviced the customer’s account, effected unsuitable mutual fund and unit investment trust transactions, and financially abused the customer. FINRA Arbitration No. 17-00583 (Mar. 23, 2018).
Grajek has been registered with UBS Financial Services Inc. since December 17, 2008.
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