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Morgan Stanley

Morgan Stanley has finally agreed to buy back $323 million worth of auction-rate securities from it’s New Jersey investors to settle allegations that it committed fraud and misled customers.

During the 2008 financial crisis, when banks stopped using their own cash to support the market, investors ended up being stuck with bonds that they couldn’t sell. These securities were marketed to clients as being more profitable than cash since they could be resold at periodic auctions run by the banks. In 2008, a $4.5 billion settlement was ordered to be paid by Morgan Stanley to buy back these misrepresented securities nationally, which they did do. If you were a New Jersey client, now is your time to sell these back.

If you would like more information on this Morgan Stanley class action lawsuit, or if you feel you may have a claim in this settlement, please get in touch with one of our Morgan Stanley fraud attorneys in Chicago, IL.

Client Reviews
Working with Joe was an absolute pleasure considering the unfortunate situation I was dealing with! He’s very knowledgeable and easy to communicate with. He kept me informed in all aspects of my case in a timely manner. Whenever I contacted him with a question he responded quickly. His expertise came through for me! I would highly recommend him! Joanne
I hired Joe and his firm Stoltmann Law office to represent me in a case where my investment guy had lost a substantial amount of money in my account. He invested in some very speculative energy stocks which should not have been in my portfolio due to my request for a very conservative investment portfolio. I was very impressed and satisfied with the representation and negotiations on my behalf by Joe and Stoltmann Law offices and I would definitely recommend them to anyone who would be in need of a very fine firm. Anonymous
Never having a need to file suit against anyone, let alone a major multi-national brokerage firm, I was at a loss to find a legal firm to assist me. After much searching, I found Stoltmann Law Offices, PC. They were very diligent and professional in the handling of my case and I am glad that I retained their services. I would definitely refer them to anyone seeking similar help. Donald F.