According to BrokerCheck records financial advisor Michael Keane (Keane), formerly associated with UBS Financial Services Inc. (UBS), has been subject to nine customer complaints. According to records kept by The Financial Industry Regulatory Authority (FINRA) Keane has been accused by a customers of unsuitable investment advice concerning various investment products including energy stocks, master limited partnerships (MLPs), and business development companies. The law offices of Gana LLP continue to report on investor related losses and potential legal remedies due to recommendations to investor in oil and gas and commodities related investments.
The most recent claim was filed in October 2017 and alleges that Keane, from February 2011 to September 2017, disregarded instructions by investing in unsuitable high risk energy stocks and MLPs. The claim is currently pending.
In November 2016 customers alleged that Keane recommended an unsuitable investment strategy in Energy Stocks, MLP’s and Business Development Companies, and further mispresented the risks associated with this investment strategy. The claim seeks damages of $4,724,136 and is currently pending.
Our firm handles claims and is also investigating securities claims against brokerage firms over sales practices related to the recommendations of oil & gas and commodities products such as exchange traded notes (ETNs), structured notes, private placements, master limited partnerships (MLPs), leveraged ETFs, mutual funds, and individual stocks.