Articles Posted in Morgan Stanley

Stoltmann Law Offices has brought arbitration claims against dozens of brokerage firms like Ameriprise Financial, Merrill Lynch, Morgan Stanley, Wells Fargo, and JP Morgan Securities involving the unsuitable recommendations for investors to invest in oil and gas related securities.  In 2014 and 2015, we represented dozens of investors against various firms involving Master Limited Partnerships, or MLPs, which are almost always related to the oil and gas industry.  Then, during a big drop in the price of oil, a lot of oil and gas companies went into bankruptcy, dragging a lot of investor money with them.  History is repeating itself.

The price of oil has completely tanked in the last month. Even before the COVID-19 pandemic, the price of oil was being pressured by a price war involving Saudi Arabia, Russia, and OPEC.  Combined with the broad-based ongoing market crash, oil and gas investments – which are inextricably linked to the price of oil – have suffered catastrophic losses.  There are some well-know names on this list:

Goldman Sachs MLP and Energy Renaissance Fund – GER: Year to Date has dropped from 4.37 to 0.68 per share

Chicago-based investor rights attorneys at Stoltmann Law Offices, P.C. have been retained by an investor who lost substantial sums from her portfolio in 2018 and 2019 during an unprecedented bull market.  The investor’s complaint alleges that because her Chicago-based Morgan Stanley broker invested most of her retirement accounts in “bear” mutual funds, that she lost approximately $150,000 when her accounts should have actually increased by at least $100,000. The Morgan Stanley financial advisor apparently believed he had the ability to time the market and aggressively placed unsuitable bets on the market’s direction. It is alleged that Mr. George bet virtually all of this investor’s retirement money on the belief that the stock market would abruptly collapse in 2018 or 2019. Unfortunately for this investor, who is retired and has little investment experience to speak of, she missed out on the gains  she would have received had Morgan Stanley invested her funds in a well managed portfolio catered to her investment objectives and risk tolerance.

The specific funds that Morgan Stanley financial advisor Richard George is alleged to have recommended to this investor are:

  1. Leuthold Grizzly Short Fund (symbol GRZZX)
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