Erez Law is currently investigating Morgan Stanley broker Michael Wagner (CRD# 4465334) regarding options losses. He has been registered with Morgan Stanley in Atlanta, Georgia, since 2012, and with Morgan Stanley in New York, New York, since 2015.
Michael Wagner Faces Customer Complaints Regarding Options
Michael Wagner has been the subject of three customer complaints between 2020 and 2021, one of which was denied, according to his CRD report:
January 2022. “Client alleged FA employed unsuitable options investment strategy.” The customer sought $15,531,642 in damages, and the case was settled for $4,100,000. The complaint was regarding options and managed wrap accounts.
November 2020. “Claimants alleged misrepresentation with respect to option strategy in managed accounts – January 2019 to January 2020.” The customer is seeking $5,162,453 in damages, and the case is currently pending. The complaint was regarding options investment losses.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Morgan Stanley may be liable for investment or other losses suffered by Michael Wagner’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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