Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Negative)
Rhea-AI Summary
National securities attorneys KlaymanToskes are investigating Morgan Stanley (NYSE:MS) following a court decision declaring the firm's Compensation Incentive and Equity Incentive Plans as 'individual account plans' under ERISA. The U.S. District Court for the Southern District of New York ruled that Morgan Stanley unlawfully withheld deferred compensation payments, mandating arbitration for affected financial advisors to recover losses.
Former Morgan Stanley brokers suffering over $100,000 in deferred compensation losses are urged to contact KlaymanToskes to file FINRA Arbitration claims. The law firm has extensive experience in securities litigation and has recovered significant amounts in past cases.
Positive
- Court ruling clarifies Morgan Stanley's deferred compensation plans fall under ERISA.
- KlaymanToskes has a proven track record, recovering over $600 million in securities litigation.
- Affected advisors have a clear path to recover losses through mandated arbitration.
Negative
- Morgan Stanley found in violation of ERISA for withholding deferred compensation payments.
- Potential financial liability for Morgan Stanley due to arbitration claims from former advisors.
- Legal actions may impact Morgan Stanley's reputation and investor confidence.
Morgan Stanley Brokers With Over
NEW YORK, NY / ACCESSWIRE / June 10, 2024 / National securities attorneys
KlaymanToskescontinues investigating Morgan Stanley (NYSE:MS) on behalf of former financial advisors following a court decision that determined Morgan Stanley violated ERISA by unlawfully withholding deferred compensation payments to its advisors. All former Morgan Stanley brokers/advisors who have suffered deferred compensation damages in excess of
should contact KlaymanToskes immediately at 888-997-9956.
KlaymanToskes reports the law firm has been contacted by several former financial advisors who are seeking to recover unpaid deferred compensation through the filing of FINRA Arbitration claims. In a recent court ruling (Case 1:20-cv-11047-PGG), the U.S. District Court for the Southern District of New York determined that Morgan Stanley's Compensation Incentive Plan and Equity Incentive Plan are "'individual account plans," which fall under the regulations of the Employee Retirement Income Security Act (ERISA).
U.S. District Judge Paul G. Gardephe mandated that financial advisors must arbitrate their claims in order to recover any deferred compensation payments withheld upon their departure from the firm. KlaymanToskes is investigating Morgan Stanley's wrongful denial of its financial advisors compensation, and encourages affected advisors to recover their deferred compensation through the filing a FINRA arbitration claim.
KlaymanToskes is a leading national securities law firm which represents industry professionals who have been involved in a number of employment-related disputes including unpaid compensation, commission, and bonuses. The law firm's founder and managing partner, Lawrence L. Klayman, Esq. has extensive experience as a former securities broker and has spent decades applying his knowledge gained on Wall Street representing brokers and financial advisors in a range of employment law matters.
If you are a former Morgan Stanley financial advisor or other securities industry professional facing an employment dispute, contact attorney Lawrence L. Klayman at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm co-founded by former securities broker Lawrence L. Klayman, which practices exclusively in the field of securities arbitration and litigation on behalf of both investors and financial industry professionals throughout the world in large and complex securities matters. The firm has recovered over
Contact
Lawrence L. Klayman, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com
SOURCE: KlaymanToskes, P.A.
View the original press release on accesswire.com
FAQ
What is the recent court ruling related to Morgan Stanley (MS)?
The U.S. District Court for the Southern District of New York ruled that Morgan Stanley's Compensation Incentive Plan and Equity Incentive Plan are 'individual account plans' under ERISA.
How can former Morgan Stanley brokers recover their deferred compensation losses?
Former brokers should contact KlaymanToskes to file FINRA Arbitration claims to recover losses exceeding $100,000.
What is the potential impact of the court ruling on Morgan Stanley (MS)?
Morgan Stanley may face financial liability and reputational damage due to arbitration claims from former financial advisors.
Who is investigating Morgan Stanley on behalf of affected advisors?
National securities law firm KlaymanToskes is investigating and representing former Morgan Stanley advisors.
What is the significance of the court's decision for Morgan Stanley (MS) advisors?
The decision allows advisors to pursue recovery of unlawfully withheld deferred compensation through arbitration under ERISA regulations.
