A class action lawsuit filed against Morgan Stanley in Broward Circuit Court in Florida alleges the financial behemoth allowed an investment adviser to trade stocks she was statutorily barred from trading.
The lawsuit, filed late Tuesday, claims that although the Securities and Exchange Commission barred West Palm Beach financial adviser Shelley Cohen from trading over-the-counter securities in the 1980s, Morgan Stanley’s predecessor Dean Witter incorrectly told her in 1995 that the ban had been lifted.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
