Morgan Stanley to Pay $11.7M to Craig S. Thistlethwaite Customer After Investment Losses in Tech Stocks
Summary
The award, granted by the FINRA panel on December 1st, 2022, includes $11.5 Million in compensatory damages and nearly $158,000 in costs to be paid out to the investor by Morgan Stanley. A panel of FINRA arbitrators denied the claimant’s request for sanctions against the firm, but also left open a proposal for “a court of competent jurisdiction” to determine whether to additionally award attorney’s fees. Although Craig S. Thistlethwaite (CRD# 2507050) is not directly named as a defendant in the complaint, FINRA arbitrators denied Morgan Stanley’s request for expungement of the matter from his records (Occurrence Number 2150194). KlaymanToskes has recovered millions of dollars for investors that suffered investment losses due to the recommendation of unsuitable covered call writing strategies. Former and current customers of Craig Sherman Thistlethwaite or Morgan Stanley’s Perrysburg, OH branch who have experienced significant investment losses are encouraged to contact securities attorney Lawrence L. Klayman, Esq.