Charles Alan Correal (also known as Chuck Correal) of Pittsburg Pennsylvania a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought compensatory damages supported by accusations that they had been sold unsuitable investments by Correal during the time that he was associated with Morgan Stanley. Financial Industry Regulatory Authority (FINRA) FINRA) Arbitration No. 20-03382 (Sept. 29, 2020).
FINRA Public Disclosure confirms that Correal has been identified in five additional customer initiated investment related disputes concerning allegations of his wrongdoing during the time that he was employed by Morgan Stanley. On April 11, 2017, a customer initiated investment related FINRA securities arbitration claim regarding Correal’s conduct was resolved for $124,000.00 in damages founded on accusations of unsuitable oil stock purchases initiated by Correal which led the customer to sustain damages. FINRA Arbitration No. 15-003142.
Correal is named in a customer initiated investment related FINRA securities arbitration claim in which the customer was awarded $110,000.00 in damages based upon Morgan Stanley and Correal being found liable on the customer’s causes of action including breach of contract and unsuitability. FINRA Arbitration No. 16-00523 (June 5, 2017). According to the Statement of Claim, the customer had been placed into risky energy stocks and real estate investment trusts that were not compatible with the customer’s goals. The Statement of Claim alleges breach of fiduciary duty and the violation of Pennsylvania Unfair Trade Practices and Consumer Protection Law. Morgan Stanley failed to supervise the stockbroker.
Correal is also named in a customer initiated investment related FINRA securities arbitration claim where the customer was awarded $7,500.00 in damages based on the stockbroker and Morgan Stanley being found liable for causing the customer’s losses. FINRA Arbitration No. 17-00792 (Sept. 19, 2017). The claim alleges that Correal caused the customer’s retirement account to be invested in a reckless and aggressive matter. According to the Statement of Claim, there was a breach of fiduciary duty and a breach of contract relating to Correal’s transactions.
On March 1, 2018, another customer initiated investment related FINRA securities arbitration claim concerning Correal’s activities was settled to resolve allegations that unsuitable structured products were sold to the customer. FINRA Arbitration No. 17-00956. The claim alleges that the risks of equities had been misrepresented by the stockbroker while he was associated with Morgan Stanley.
Correal is also referenced in a customer initiated investment related written complaint which was settled for $75,000.00 on July 31, 2018 supported by accusations of unsuitable stock trades resulting in damages to the customer. FINRA Arbitration No. 17-02032.
Correal has been registered with Harvest Financial Corporation as a stockbroker and investment adviser representative since May 24, 2016.
