Former Morgan Stanley Advisor Wins $150K for Emotional Distress

Posted on December 17th, 2014 at 2:08 PM
Former Morgan Stanley Advisor Wins $150K for Emotional Distress

From the Desk of Jim Eccleston at Eccleston Law Offices:

A former Morgan Stanley advisor won $150,000 in damages for the manner in which his employment was terminated in a FINRA arbitration.

According to the FINRA arbitration awards, Morgan Stanley was liable for "causing humiliation, emotional distress and loss of book of business.”

The advisor was employed at Morgan Stanley in Palm Beach, Fla., from 2006 until 2013 when the firm discharged him, accusing him of wrongful solicitation and handling of a client account.

In arbitration, the advisor sought damages for wrongful termination, slander and disparagement to his business reputation and breach of implied contract. The panel ordered Morgan to pay $150,000 for terminating the advisor’s employment in a “rush to judgment”, which caused the advisor’s unnecessary harm. 

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services. 

Related Attorneys: James J. Eccleston

Tags: FINRA, Morgan Stanley, arbitration, advisor

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