According to FINRA Arbitration Award 14-00829, while a broker with Morgan Stanley, Kim Isaacson lied to a client regarding the value of the client’s investment portfolio. In the complaint the client pleaded the following causes of action: breach of fiduciary duty, common law fraud, negligence and gross negligence, negligent supervision, breach of contract, unsuitability, unauthorized trading, and violation of New York General Business Law. The FINRA Arbitration Panel found Isaacson and Morgan Stanley jointly and severally liable for $993,989.00 as disgorgement of brokerage fees and commissions paid and $2,593,000.00 representing the difference between the actual account balance and the value verbally reported to client by Isaacson.
Isaacson’s FINRA Broker Check Report shows a pending FINRA Arbitration 16-00013 where the claimant is alleging unsuitability and misrepresentation regarding equity investments. Further the claimant alleges that Isaacson provided inaccurate information about the performance of the portfolio.
Fishman Haygood represents investors who have suffered investment losses in claims against their brokers or financial advisors. Our experienced attorneys have brought securities fraud cases in state and federal courts across the nation, as well as in FINRA arbitration. We work to help investors recoup their losses.
Of course, all cases are different. For that reason, we analyze each client’s matter individually and provide our personalized evaluation only after considering all of the facts and circumstances of all possible claims. If you or someone you know is the victim of securities fraud, please contact a Fishman Haygood lawyer today.