MIAMI, April 29, 2022 (GLOBE NEWSWIRE) — National investment fraud lawyers KlaymanToskes is investigating Anthony (“Tony”) Gallea, who is a Morgan Stanley (NYSE: MS) broker registered out of the firm’s Hendersonville, NC branch location, in light of recent customer complaints regarding an options trading strategy. Gallea has been registered as a broker and investment adviser with Morgan Stanley since 2009.
According to FINRA BrokerCheck, since September 2021, two customers of Tony Gallea have filed written complaints alleging, among other things, misrepresentation with respect to a covered call options strategy. Gallea is the founder of the Pelican Bay Group at Morgan Stanley and serves as a Senior Portfolio Management Director at Morgan Stanley’s Portfolio Management Group. As of December 31, 2020, Gallea and his colleagues manage $3 billion for individual and institutional clients, including $1.4 billion in covered call writing strategies.
According to securities attorney Lawrence L. Klayman, Esq., “Brokerage firms and its financial advisors have a duty to disclose materials facts concerning their investment recommendations, including those involving risky options strategies. A firm’s misrepresentation or omission of material facts concerning their investment recommendations is a sales practice violation, and is a basis for liability in a FINRA arbitration claim.”
The sole purpose of this release is to investigate the covered call strategies deployed by Morgan Stanley broker Tony Gallea. Former and current customers of Morgan Stanley’s Tony Gallea who have information relating to the manner in which he handled customer accounts are encouraged to contact Lawrence L. Klayman, Esq. at 1-888-997-9956.
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 more than $230 million for investors in FINRA arbitrations. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico
Lawrence L. Klayman, Esq.