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Written by D. Daxton White• July 30, 2015• 10:10 pm• Blog, Securities Fraud Articles

Morgan Stanley Pays Investors $2.4 Million

Syndicated Conservation Easements Investigation, featured by Top Securities Fraud Attorneys, The White Law Group
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Investigation Update

Morgan Stanley has been ordered to pay $2.4 million to investors due allegations of unauthorized and excessive trading on client accounts. The investors included a group of physicians and their family members. All were clients of former Morgan Stanley broker Steven Mark Wyatt.

Wyatt allegedly sold clients stocks that he himself owed, in addition to loading their portfolios with speculative exchange traded funds and other risky securities.

According to InvestmentNews. Wyatt has been repeatedly accused of mishandling investments. Four other case involving Wyatt have been settled or resolved. Two other Morgan Stanley employees were named in the case. Branch manager Fred E. Brister III and broker Hilary Zimmerman.

Brokerage firms are required to properly supervise their employees and to ensure that they are complying with industry rules and standards. When they fail to do so, the firms can be liable for investment losses.

Recovery of Investment Losses

The foregoing information, which is all publicly available, is being provided by The White Law Group. The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group, visit www.whitesecuritieslaw.com. or call for a free consultation call 888-637-5510.

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