National investment fraud lawyers KlaymanToskes issues an update to customers of Morgan Stanley’s Perrysburg, Ohio branch after their former broker/investment adviser Craig Sherman Thistlethwaite (CRD# 2507050) was discharged from Morgan Stanley and an investor complaint alleging unsuitability, with respect to a stock options strategy, was settled in favor of the investor for $4.2 Million.
Investors that suffered losses with Craig Thistlethwaite or any other advisor at Morgan Stanley’s Perrysburg, Ohio branch are encouraged to contact attorney Lawrence L. Klayman, Esq., for a free consultation at 888-997-9956 or lklayman@klaymantoskes.com to discuss their recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
According to FINRA’s BrokerCheck Report, Craig Sherman Thistlethwaite has three public disclosures including one investor complaint awarded $11.5 million and a recent employment separation after allegations from Morgan Stanley. On December 29th, 2022, an investor complaint alleging unsuitability with respect to a stock options strategy was settled in favor of the investor for $4,200,000.
KlaymanToskes previously reported Thistlethwaite’s involvement in an investor complaint that alleged an unauthorized call options strategy, whereby Morgan Stanley was ordered to pay $11.5 million in compensatory damages to the customer after a FINRA arbitration panel ruled in favor of the investor. According to the award, the investor alleged negligence and breach of fiduciary duty related to a covered call writing strategy which resulted in large tech holdings being called away from their trust account, including Nvidia Corporation, Tesla Motors, Apple Inc., Salesforce, and Microsoft Corp.
Thistlethwaite’s most recent disclosure is an employment separation after allegations which states that the broker/advisor was discharged from Morgan Stanley on January 17th, 2023 due to “concerns related to entering transactions in two related clients’ accounts without receiving verbal confirmation immediately beforehand, engaging in written firm-related communications with the client on his non-firm-approved device, and purchasing a timeshare from the client without firm approval.”
When an investor opens a full-service brokerage account with Morgan Stanley, they are bound to resolve disputes through FINRA arbitration. Fortunately, KlaymanToskes believes FINRA arbitration is the ideal approach for investors that suffered losses at the hands of their broker/financial advisor. FINRA arbitration is cost-effective for investors, allowing increased speed and efficiency over a court proceeding.
Former customers of Craig Sherman Thistlethwaite who have experienced significant investment losses are encouraged to contact securities attorney Lawrence L. Klayman, Esq. at 1-888-997-9956 or lklayman@klaymantoskes.com for a free and confidential consultation.
Our firm offers legal services on a contingency fee basis, meaning we do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
FINRA (Financial Industry Regulatory Authority) is the self-regulatory body responsible for regulating all U.S. brokers and brokerage firms. Under FINRA, brokers/financial advisors and their firms are responsible for providing suitable investment advice while keeping their customers’ best interest in mind.
SEC Regulation Best Interest, (“Reg BI”), under the Securities Exchange Act of 1934, establishes a “best interest” standard of conduct for brokers and brokerage firms making recommendations of securities investments to their customers. FINRA-regulated brokers, financial advisers, and brokerage firms have a responsibility to make recommendations with their customer’s best interest in mind, based upon the client’s personal needs and preferences.
If you believe your broker/financial advisor did not act in your best interest when managing your brokerage account, contact KlaymanToskes for a free, confidential consultation at 888-997-9956 or through our website, www.klaymantoskes.com.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com