Retiree Accuses Morgan Stanley of Elder Financial Abuse from Covered Call Strategy Involving NVIDIA and Apple Shares

A 77-year-old retiree wants to file a $5,000,000 FINRA arbitration case against Morgan Stanley. He contends that he was the victim of unsuitability, elder financial abuse, and breach of fiduciary duty involving the broker-dealer and its financial advisor  Nicholas Samuel Westendorf. This senior investor claims that his funds were exposed to a covered call strategy that he didn’t fully understand but he believed was supposed to protect his stock. However, he alleges, after he said in writing he wanted out, Morgan Stanley kept rolling his options for four more years. Eventually, his Apple and NVIDIA shares were called away.

This is an investor who says he made it very clear that he wanted to protect his shares. He also was new to covered call trading. He was billed six-figures for taxes on the gains. Morgan Stanley and his broker-dealer earned substantial commissions.

Claimant Suffered Losses in Inland Zero-Coupon OH Fulfilment DST and Internacional Gatsby DST

National securities law firm Shepherd Smith Edwards and Kantas is representing an inexperienced California investor in a FINRA arbitration claim seeking up to $1 million against McDermott Investment Services. The claim alleges the firm unsuitably recommended risky Delaware Statutory Trusts (DSTs) that led to near-total principal losses despite the client’s request for safe, income-generating investments.

Shepherd Smith Edwards and Kantas (investorlawyers.com) is representing a California investor in her FINRA arbitration claim against McDermott Investment Services, its control person Dean Patrick McDermott, and broker Troy Thomas. Our Client contends that she was unsuitably recommended two Delaware Statutory Trusts (DSTs):  Inland Zero-Coupon OH Fulfilment DST and Internacional Gatsby DST. She went on to sustain significant losses and is now seeking up to $1,000,000 in financial recovery.