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Broker Misconduct Investigation: Gregg Gravenstine (Morgan Stanley)

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Updated on: June 28, 2024

National investment loss lawyers KlaymanToskes is investigating broker Gregg Gravenstine (CRD# 1762521) of Morgan Stanley, who has been suspended from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following allegations that he executed cash journals from a customer’s account to an account owned by the customer’s father, without obtaining approval from the customer.

According to FINRA’s investigation, from February 2019 through November 2019, Gravenstine executed 10 cash journals (totaling $24,109) from a customer’s account to an account owned by the customer’s father. Gravenstine allegedly made these transfers based on instructions from the customer’s father even though the father was not authorized to direct transactions in the customer’s account. 

Further, FINRA’s Department of Enforcement found that Morgan Stanley’s policies prohibited registered representatives from communicating with customers about firm business via unapproved communication channels. From August 1, 2020, to August 31, 2021, Gravenstine sent approximately 700 text messages from his personal cell phone to at least 10 customers relating to firm business, which were not reviewed or retained by the firm. 

By using personal text messages to communicate with customers about firm business, Gravenstine caused Morgan Stanley to fail to comply with its recordkeeping obligations under the Exchange Act, and thereby violated FINRA Rule 4511 and FINRA Rule 2010. Gravenstine is currently registered with Morgan Stanley in Mount Laurel, NJ. 

Investors that suffered losses with broker Gregg Gravenstine are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at lawrence@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.

Investment Losses with Broker Gregg Gravenstine?

Investment Losses with Broker Gregg Gravenstine?

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Current Investigations About Broker Gregg Gravenstine That You Should Know as an Investor:

KlaymanToskes is a leading national investment loss law firm that represents the interests of investors throughout the world who have suffered losses due to broker misconduct, investment fraud, and securities violations. 

The articles linked below contain important information relating to KlaymanToskes’ investigation of broker Gregg Gravenstine:

If you suffered losses with broker Gregg Gravenstine, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.

The firm has helped recover over $600 million* for investors, and can help you determine if your loss is due to financial advisor misconduct, unsuitable investment advice, and/or other securities violations.

*Exclusive of attorneys fees and costs.

Signs Investors Should Look Out For About Their Brokerage Accounts:

As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Gregg Gravenstine. These signs could potentially indicate broker misconduct, negligence, or investment fraud. Investors are encourage to contact our firm immediately if you have experienced any of the following: 

  • You have substantial losses in your investment accounts
  • You received a call, email, or other communication from your broker’s supervisor or manager regarding your portfolio
  • Your broker misrepresented investment opportunities, or failed to disclose details about investments
  • You notice unauthorized transactions in your investment accounts
  • Your broker is not returning your calls or emails
  • You filed a complaint with your brokerage firm that has not been resolved
  • You see a mistake on your statement, or receive a fraudulent account statement

Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.

According to FINRA, brokerage firms such as Morgan Stanley are responsible for the supervision of all of the activities of their registered brokers and investment advisors. Investors may be entitled to a financial recovery if their brokerage firm failed to supervise the representative managing their brokerage account, and/or if their broker/advisor made unsuitable investment recommendations.

Engaging the services of an experienced securities attorney to evaluate the specific circumstances of your case is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.

If you suffered losses with broker Gregg Gravenstine, or have concerns regarding your investment portfolio at Morgan Stanley, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation to discuss recovery options.