UBS Recommended Noble Stock to Customers Until Company’s Bankruptcy
Investors May Have Been Subject to Unsuitable Recommendations & Misrepresentations
If you are a UBS customer whose broker persuaded you to invest in Noble Corporation, you likely have lost money. The offshore drilling company filed for Chapter 11 bankruptcy protection on July 31 in Houston, Texas.
Noble Corp. took a huge financial hit this year as COVID-19 caused oil and gas prices to plunge in value, making oil wells below the sea too costly. However, the company’s financial woes did not stop UBS Financial Group from recommending Noble stock shares to investors all the way leading up to its bankruptcy filing.