UBS Warburg fired one of its brokers for warning about Enron :D

Discussion in 'Trading' started by harrytrader, Dec 20, 2003.


    UBS Warburg and its sister company, Paine Webber, Inc., are financial firms with the former providing research and analysis for the latter. UBS Warburg is accused of misrepresentation, because the firm continued to rate Enron stock as a "strong buy" up until four days before it declared bankruptcy. Because Paine Webber had encouraged many Enron employees to invest their 401(k) contributions back into Enron, many of these emloyee-investors lost everything with the fall of Enron. UBS Warburg allegedly fired one of its brokers, Chung Wu, for warning investors about Enron's decline.