Investor vs. Morgan Stanley
Josh Ross successfully represented a former NBA basketball player who filed claims against his broker/investment advisor and firm that employed the broker, alleging the broker defrauded him by misrepresenting facts about an investment, by taking the client’s investment for his personal use, and ultimately by stealing the investment property and selling it for his own use. Months after filing a lawsuit, Ross helped the client settle with the broker, who agreed to pay the entire loss. After the broker failed to pay, Ross filed a FINRA arbitration against the broker’s former employer, a worldwide brokerage firm, alleging that the firm failed to supervise the broker’s activities. Ross tried the case to a panel of FINRA arbitrators. Three days following the close of evidence, the panel issued an award in favor of Stoll Berne’s client, awarding the full amount of the damages sought.