National investment fraud lawyers KlaymanToskes is investigating Morgan Stanley’s Napa, CA and Stockton, CA branches after Vice President and financial advisor Christopher John McCaffrey (CRD# 2735236) received an investor complaint alleging that he made misrepresentations and unsuitable recommendations related to an options trading strategy resulting in $15,531,642 in damages.
If you suffered investment losses with Christopher John McCaffrey or any other advisor at Morgan Stanley’s Napa, CA or Stockton, CA branch, you are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lklayman@klaymantoskes.com for a free and confidential consultation to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
According to FINRA BrokerCheck, Christopher John McCaffrey has two investor complaints disclosed. The most recent complaint was filed on January 20th, 2022, and alleges $15,531,642 in damages to the investor due to McCaffrey’s misrepresentations and unsuitable recommendations related to an options trading strategy. A previous investor complaint filed against Christopher McCaffrey alleged unauthorized trading in the customer’s account.
KlaymanToskes is currently investigating other Morgan Stanley brokers/advisors in connection with investor complaints alleging unsuitable options trading strategies. In February 2023, the firm reported that Morgan Stanley broker Walter Lim (CRD# 1747688) received an investor complaint alleging that an unsuitable covered call options trading strategy resulted in $673,000 in investor damages. Learn more about this broker here: “Morgan Stanley Broker Walter Lim: Investor Files $673k Options Strategy Complaint”
Our firm has recovered tens of millions of dollars for investors that suffered investment losses due to covered call writing strategies and option mismanagement. The unsuitable investment strategy of selling covered call options on stocks is often employed by brokerage firms on concentrated portfolios, and can lead to investors experiencing severe losses of thousands of shares or significant amounts of money buying back the shares.
Investors that suffered losses as a result of unsuitable options-related investments with Christopher McCaffrey, Walter Lim, and/or other representatives of Morgan Stanley are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lklayman@klaymantoskes.com for a free and confidential consultation.
Brokerage firms and their brokers/financial advisors have a fiduciary responsibility to provide their customers with suitable investment advice that is in the customers’ best interest which meets their investment needs/goals. Investors that have suffered losses as a result of their advisor’s violations of securities rules may hold their brokerage firm and financial professional liable through a FINRA arbitration claim.
Firms and their registered representatives may be liable for a breach of fiduciary duty and/or failure to supervise in the event of non-compliance with the securities industry standards of care for the handling of customer accounts. Investors can learn more about securities violations by visiting our account activity violations and account related violations pages.
Contact KlaymanToskes today at (888) 997-9956 or lklayman@klaymantoskes.com to learn more about the FINRA arbitration process and to discuss recovery options. Consultations are free and we offer legal services on a contingency basis, meaning we do not collect attorney’s fees unless we are able to obtain a recovery for you.
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