(Bloomberg) -- UBS was ordered to pay a former broker at least $5.3 million in damages and fees after he said that the bank misled him about the risks of securities issued by Lehman Brothers Holdings.

A Financial Industry Regulatory Authority arbitration panel found that UBS “deliberately prevented the distribution of material information about Lehman Brothers sinking financial condition and continued to recommend the sale” of its structured notes, according to the award documents. Lehman filed for bankruptcy on Sept. 15, 2008.

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