Published On: August 11, 2015

The Financial Industry Regulatory Authority (FINRA) took action against Morgan Stanley for allegedly mismanaging client accounts. Claimants cause of action included suitability, unauthorized trading, and churning in connection with the mismanagement of the accounts. The claims referenced purchases of E*Trade, Oculus Innovative Sciences Inc., ProShares Ultra ETFs, Daktroniks, Novatel, Research in Motion, Valence Technology, Tri-Tech Holding, Inc., Morris, Lazy Boy, Legend International and Southern Financial Group. The Morgan Stanley employees involved in the matter included Steven Mark Wyatt, Hilary Joseph Zimmerman and Fred Eugene Brister III. Morgan Stanley was ordered to pay over $1.5 million, plus over $100,000 in punitive damages. If you would like to sue Morgan Stanley for mismanagement of an account, please call our securities law firm based in Chicago at 312-332-4200. We sue Morgan Stanley to recover losses for investors in the FINRA arbitration forum. We take cases on a contingency fee basis.

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If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

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