DID MICHAEL JAY SCOTTO CAUSE YOU INVESTMENT LOSSES?
Michael Scotto Of Morgan Stanley Has 3 Customer Complaints For Alleged Broker Misconduct
Who is Michael Scotto of Morgan Stanley?
Michael Scotto (CRD #1335289) who is currently registered with Morgan Stanley and located in New York, New York is a subject of one of our many securities industry sales practice abuse investigations.
Michael Scotto Customer Complaints
Michael Scotto has been the subject of 3 customer complaints that we know about, one of those complaints was filed in the last year to recover investment losses. All of Michael Scotto’s customers’ complaints were denied and, to date, the customers have not taken any further action.
Allegations Against Michael Scotto
A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:
- Client alleged that “an inappropriate, off strategy stock was purchased by SSB portfolio manager (Michael J. Scotto) for his SSB asset management account.”
- Client alleges that Michael Scotto overemphasized industry sectors that were inappropriate for client’s profile.
- Client alleged, inter alia, excessive trading with respect to reinvestment strategy employed by Michael Scotto’s team.
Michael Scotto Red Flags & Your Rights As An Investor
Of course, Michael Scotto did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Michael Scotto at Morgan Stanley on alert to review carefully the activity and performance of their accounts and question whether Michael Scotto has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Morgan Stanley also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
File A Claim To Recover Your Investment Losses At Morgan Stanley Due To Michael Scotto
If you have questions about Morgan Stanley and/or Michael Scotto and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.