March 22, 2016- Tampa, FL
A Financial Industry Regulatory Authority arbitration panel ordered Morgan Stanley and two of its broker to pay $34 million to the estate of Roy M. Speer, co-founder of the Home Shopping Network.
An all public panel of arbitrators found that broker Ami Forte and branch manager Terry McCoy and Morgan Stanley were jointly liable for unauthorized trading, breach of fiduciary duty, constructive fraud and negligent supervision. The arbitrators also found that Morgan Stanley, the broker and the manager violated Florida Statute Chapter 415 , Adult Protective Services Act entitling the Claimant to attorney fees to be determined by a court of competent jurisdiction.
From January 2015 to February 2016, the Panel conducted 142 hearing sessions spanning 70 days and heard testimony from 35 witnesses.
If you have losses in your investment account which you think are due to the negligence or fraud of your financial advisor, call to speak with an experienced securities lawyer.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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