Securities Arbitration Investment Fraud Lawyers » Investment and Regulatory News » Morgan Stanley Settles Investors’ Claims Concerning Unsuitable Investment Recommendations

Morgan Stanley

Keith Matthew Kordich of Boca Raton, Florida, a stockbroker registered with Morgan Stanley, was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $50,000.00 in damages based upon allegations that Kordich made unsuitable investment recommendations during the period Kordich was associated with Morgan Stanley. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00463 (January 14, 2020).

FINRA Public Disclosure shows that Kordich is referenced in five other customer initiated investment related disputes concerning Kordich’s conduct while associated with securities broker dealers, including Ladenburg Thalmann Co. Inc. and Morgan Stanley Smith Barney. On October 3, 2000, a customer filed an investment related complaint involving Kordich’s conduct in which the customer requested $72,625.82 in damages based upon allegations that Kordich engaged in the unauthorized trading of over-the-counter equities at Ladenburg Thalmann Co. Inc.

On July 16, 2001, another customer filed an investment related complaint involving Kordich’s conduct in which the customer requested $500,000.00 in damages based upon allegations that Kordich made misrepresentations and omissions of material fact, made unsuitable recommendations of equities and promissory notes, and engaged in private securities transactions.

Kordich was also referenced in a NASD securities arbitration claim that was settled for $9,500.00 in damages based upon allegations that Kordich made misrepresentations of material fact, breached his fiduciary duties, and breached a contract in connection with the recommendation and sale of over-the-counter equities. NASD Arbitration No. 00-05618 (October 23, 2001).

On March 12, 2014, a FINRA securities arbitration claim involving Kordich’s conduct was settled for $43,000.00 in damages based upon allegations that Kordich engaged in excessive trading of stocks when Kordich was associated with Morgan Stanley Smith Barney. FINRA Arbitration No. 13-01114.

Kordich was associated with Morgan Stanley in Purchase, NY, as an investment advisor representative from July of 2018 to January of 2019, and was associated with Morgan Stanley in Boca Raton, FL, as a stockbroker from March of 2011 to January of 2019.

Kordich has been associated with Ameriprise Financial Services LLC in Boca Raton, FL, as a stockbroker and investment advisor representative since January 11, 2019.