Morgan Stanley Custom Discretionary Portfolio Lawsuit : Order Entry System Fraud
Do you have a Morgan Stanley Discretionary Account?
Did you lose more than $250,000 in the Account?
You may be a victim of Fraud & Conflict of Interest.
Our law firm can help you recover for your losses.
Morgan Stanley discretionary accounts for high net worth individuals in the Morgan Stanley Custom Portfolio Investment Management Program have significantly under performed the stock market in good times and bad due to poor stock selection. But more serious problems may be to blame for losses in these accounts.
Conflict of Interest? Blatant Violations of Fiduciary Duties?
Our law firm believes that significant conflicts of interest existed at Morgan Stanley in the management of these large accounts. In these accounts Morgan Stanley financial advisors are fiduciaries and have a duty to act in the Custom Portfolio clients’ best interests disclosing all relevant conflicts of interest.
Despite this duty it appears Morgan Stanley advisors failed to inform Custom Portfolio investors about a serious conflict of interest within Morgan Stanley’s investment department. It is being alleged that when Morgan Stanley financial advisors purchased the stock of companies with which had an investment banking relationship with Morgan, the fiduciary advisor was unable to freely sell the stock, or advise client to do so even when the stock was declining and in trouble.
Our research indicates that Morgan Stanley’s internal order entry system prevented the sale of these stocks!!!
If an advisor did attempt to sell a troubled stock the transaction was frozen with an error message explaining that the stock could not be sold due to the firm’s investment banking relationship with that company!
Morgan Stanley failed to disclose this conflict, causing Custom Portfolio clients to suffer massive losses.
Did you lose over $250,000 in these investments? Angry about your advice? If you answered yes, Please call Attorney Bill Kyros at 1-800-934-2921 to discuss your rights.
Kyros Law is a Boston-based law firm with significant experience representing investors in FINRA Arbitration recovery, shareholder class actions, shareholder derivative actions, and securities fraud class actions. For info about our law firm please our Kyros Law web site.
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