Did you lose money investing with Morgan Stanley broker Barry Garapedian (CRD# 1039257) who is accused of unsuitable investment recommendations? He was registered with Morgan Stanley in Westlake Village, California from 2009 to 2021, when he was terminated regarding, “Allegations that the representative submitted transactions under production numbers that were inconsistent with agreement with another representative resulting in a shortfall of revenue credited to the other representative.”
Barry Garapedian Customer Complaints
He has been the subject of 16 customer complaints between 1992 and 2021, five of which were denied and one was closed without action, according to his CRD report. Recent customer complaints include:
August 2021. “Claimant alleges, inter alia, that the securities purchased in her account were unsuitable for her – 2016-2017.” The customer is seeking $1,414,268.49 in damages.
April 2018. “Customer alleges that his account had excessive fees, investments were unsuitable, and investments were overconcentrated.” The customer sought $713,000 in damages and the case was settled for $100,000.
March 2018. “Claimant alleged, inter alia, unsuitable recommendations with respect to investments – 2013 to 201.” The case was settled for $170,000.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Morgan Stanley may be liable for investment or other losses suffered by Barry Garapedian’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.