{"id":5786,"date":"2015-04-27T00:00:00","date_gmt":"2015-04-27T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2015\/04\/morgan_stanley_sued_by_home_sh"},"modified":"2022-05-06T14:55:37","modified_gmt":"2022-05-06T19:55:37","slug":"morgan-stanley-sued-by-home-sh","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-sued-by-home-sh\/","title":{"rendered":"Morgan Stanley Sued by Home Shopping Founder\u2019s Widow for $170M"},"content":{"rendered":"\n<p>Lynnda L. Speer, the widow of Home Shopping Network co-founder Roy M. Speer, is suing Morgan Stanley Wealth Management (MS), a branch manager, and an adviser for over $170 million. Mrs. Speer contends that the firm and adviser Ami Forte took part in excessive trading, abused their fiduciary duty, and were involved in unauthorized use of discretion.<\/p>\n<p>Now, she is seeking $78 million for Florida Statute violations, up to $66 million in portfolio damages, and up to $44 million for disgorgement and excess commission damages. Also named in the complaint submitted to the Financial Industry Regulatory Authority is Morgan Stanley branch manager Terry McCoy. <\/p>\n<p>Reuters reports that Speer\u2019s case accuses Morgan Stanley of not properly supervising its brokers and failing to act in the best interests of Mr. Speer. When Speer died in 2012 at the age of 80 his estimated worth was approximately $775 million.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-sued-by-home-sh\/\"  title=\"Continue Reading Morgan Stanley Sued by Home Shopping Founder\u2019s Widow for $170M\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Lynnda L. Speer, the widow of Home Shopping Network co-founder Roy M. Speer, is suing Morgan Stanley Wealth Management (MS), a branch manager, and an adviser for over $170 million. Mrs. Speer contends that the firm and adviser Ami Forte took part in excessive trading, abused their fiduciary duty, and were involved in unauthorized use [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3787],"tags":[],"class_list":["post-5786","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-morgan-stanley"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Morgan Stanley Sued by Home Shopping Founder\u2019s Widow for $170M &#8212; Investor Lawyers Blog &#8212; April 27, 2015<\/title>\n<meta name=\"description\" content=\"Lynnda L. Speer, the widow of Home Shopping Network co-founder Roy M. Speer, is suing Morgan Stanley Wealth Management (MS), a branch manager, and an &#8212; April 27, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-sued-by-home-sh\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Morgan Stanley Sued by Home Shopping Founder\u2019s Widow for $170M &#8212; Investor Lawyers Blog &#8212; April 27, 2015\" \/>\n<meta name=\"twitter:description\" content=\"Lynnda L. Speer, the widow of Home Shopping Network co-founder Roy M. Speer, is suing Morgan Stanley Wealth Management (MS), a branch manager, and an &#8212; April 27, 2015\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Morgan Stanley Sued by Home Shopping Founder\u2019s Widow for $170M &#8212; Investor Lawyers Blog &#8212; April 27, 2015","description":"Lynnda L. Speer, the widow of Home Shopping Network co-founder Roy M. Speer, is suing Morgan Stanley Wealth Management (MS), a branch manager, and an &#8212; April 27, 2015","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-sued-by-home-sh\/","twitter_card":"summary_large_image","twitter_title":"Morgan Stanley Sued by Home Shopping Founder\u2019s Widow for $170M &#8212; Investor Lawyers Blog &#8212; April 27, 2015","twitter_description":"Lynnda L. Speer, the widow of Home Shopping Network co-founder Roy M. 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