TIMOTHY DARREN WHITWORTH is currently employed as a Broker and/or Investment Adviser at UBS FINANCIAL SERVICES INC. located at 3000 A STREET, SUITE 100, ANCHORAGE, AK, 99503.
TIMOTHY DARREN WHITWORTH has worked at UBS FINANCIAL SERVICES INC. since February 16, 2001
Disclosure History
TIMOTHY DARREN WHITWORTH has 1 Disclosure Event(s).
Date: April 02, 2008 Category: Customer Dispute Allegations: PLAINTIFF ALLEGED MISREPRESENTATION, OMISSIONS, NEGLIGENCE, BREACH OF FIDUCIARY DUTY, CONVERSION, AND UNSUITABLE RECOMMENDATIONS IN CONNECTION WITH THE PURCHASE AND SALE OF AUCTION RATE SECURITIES IN PLAINTIFF'S UBS ACCOUNTS. Damage Amount Requested: $6,275,001.45 Settlement Amount: $140,000.00 Broker Comment: THE COMPLAINT AROSE BECAUSE OF UNPRECEDENTED MARKET EVENTS THAT CAUSED THE BREAKDOWN OF LIQUIDITY IN THE MARKET FOR AUCTION RATE SECURITIES. THE BROKER DID NOT KNOW THE PLAINTIFF IN ANY CAPACITY UNTIL AFTER THE LIQUIDITY BREAKDOWN AND THEREFORE COULD NOT AND DID NOT ENGAGE IN ANY SALES PRACTICE VIOLATIONS OR BREACH OF DUTY. THE BROKER'S INVOLVEMENT BEGAN AFTER THE AFORE MENTIONED LIQUIDITY BREAKDOWN WHEN THE BROKER ATTEMPTED TO HELP THE PLAINTIFF SOLVE THEIR LIQUIDITY PROBLEMS. THE BROKER WAS NOT ASKED TO CONTRIBUTE NOR DID HE CONTRIBUTE IN ANY WAY TO THE SETTLEMENT.
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