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Investigation of Former Morgan Stanley Broker Robert David

Posted on Friday, July 3rd, 2020 at 8:06 am    

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There are options for clients of former Morgan Stanley broker Robert David (CRD# 5211223) who suffered investment losses. David has been registered with Morgan Stanley in Farmington Hills, Michigan from 2009 to 2019, when he was terminated regarding, “Allegations related to registered representative entering inaccurate client profile information relative to bond-related transactions and concerns that some of those transactions were not confirmed immediately beforehand.”

David has been the subject of four customer complaints between 2019 and 2020, according to his CRD report:

April 2020. “Client alleged, inter alia, misrepresentation with respect to corporate bond investments – 9/24/2014 to 02/29/2020.” The customer is seeking $183,000 in damages and the case is currently pending. The complaint was regarding corporate debt and took place while David was registered with Morgan Stanley. 

March 2020. “Client verbally alleged, inter alia, unsuitability with respect to investments. – April 2015- March 2019.” The case was settled for $35,000. The complaint was regarding corporate debt and took place while David was registered with Morgan Stanley. 

May 2019. “Client alleged, inter alia, unauthorized trading with respect to investments – October 2010 to May 2019.” The customer is seeking $800,000 in damages and the case is currently pending. The complaint was regarding corporate debt, common and preferred stocks, and mutual funds and took place while David was registered with Morgan Stanley. 

May 2019. “Claimants allege, inter alia, unsuitability with respect to investments Mar 2017 – Mar 2019” The case was settled for $200,000. The complaint was regarding corporate debt and took place while David was registered with Morgan Stanley. 

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 David’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.