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FINRA Panel Awards $1 Million to Morgan Stanley Investor

By December 16, 2015September 20th, 2017News

A Massachusetts FINRA Panel recently awarded Claimant Genevieve Lenehan over $1 million in damages – including punitive damages and attorneys’ fees — against investment adviser Justin Amaral and brokerage firm Morgan Stanley Smith Barney LLC d/b/a Morgan Stanley.

Lenehan filed her FINRA arbitration claim on December 12, 2014 and asserted claims including: breach of fiduciary duty; negligence; breach of contract and breach of the covenant of good faith and fair dealing; violation of Massachusetts and federal securities statutes; fraud; undue influence; and failure to supervise.

The FINRA Panel found Morgan Stanley and Amaral jointly and severally liable, and awarded the following damages

  • Compensatory Damages: $256,000
  • Punitive Damages: $512,000
  • Interest on the award of compensatory damages at the rate of 6% per annum from December 12, 2014
  • Attorneys’ fees: $226,517.74
  • Costs: $63,500
  • Refund of filing fee: $600

The Panel also assessed the hearing fees of $15,750 jointly and severally to Amaral and Morgan Stanley.

The FINRA case was No. 14-03705; the decision was released December 8, 2015.

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.

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