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.
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.