National investment loss lawyers KlaymanToskes continues investigating broker/investment advisor Michael Kelley Spector (CRD# 2857657) of Morgan Stanley in connection with a customer complaint which alleged an unsuitable covered call options investment strategy, and was settled in favor of the investor for $4,100,000.
Spector is currently registered with Morgan Stanley’s Atlanta, GA branch located at 3280 Peachtree Road. He has 25 years of experience in the securities industry and holds 49 state licenses.
Investors that suffered losses with Michael Spector may have recovery options. Contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or lklayman@klaymantoskes.com for a free consultation to discuss legal options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
According to FINRA BrokerCheck, Michael Kelley Spector has one customer complaint disclosed. The customer alleged more than $15 million in damages in a managed/wrapped account due to an unsuitable covered call options strategy. The complaint was settled in favor of the investor for $4,100,000.
Under FINRA (Financial Industry Regulatory Authority) suitability requirements, FINRA Rule 2111, all registered financial professionals and their firms have a responsibility to recommend suitable financial offerings and trading strategies based on their customers’ financial interests. Further, brokerage firms and financial advisors are required to have a “reasonable basis” for recommending investments or investment strategies.
KlaymanToskes can help you determine if your investment loss is due to unsuitable investment advice. We offer free consultations and every case is taken on a contingency basis, meaning we do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Contact attorney Lawrence L. Klayman, Esq. for a free consultation at (888) 997-9956 or lklayman@klaymantoskes.com to discuss your potential case.
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