Michael Edward Fitzgerald of Cincinnati Ohio a stockbroker associated with Morgan Stanley Smith Barney has been referenced in a customer initiated investment related arbitration claim which was settled for $68,000.00 in damages supported by allegations that stock trades that were facilitated in the customer’s account by Fitzgerald failed to be suitable for the Morgan Stanley Smith Barney customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-02113 (Feb. 20, 2019).
Fitzgerald has been referenced in five more customer initiated investment related disputes concerning accusations of his improprieties when he was associated with securities broker dealers including Birr Wilson Company Inc., PaineWebber and Morgan Stanley. FINRA Public Disclosure reveals that a customer initiated investment related arbitration claim regarding Fitzgerald’s conduct resulted in the customer being awarded $37,250.00 in compensatory damages based upon Fitzgerald being found liable on the customer’s claims which included that he neglected to inform the customer about risks of trading stocks on margin.
Another customer initiated investment related arbitration claim involving Fitzgerald’s conduct was settled $227,500.00 in damages based upon allegations that transactions effected in the customer’s account failed to be reasonably supervised by PaineWebber Inc. which resulted in the customer being sold unsuitable and misrepresented investments. The claim also alleges that a fiduciary duty that was owed to the customer had been breached by Fitzgerald.
Fitzgerald is also referenced in a customer initiated investment related complaint which was resolved on March 8, 2016 for $50,000.00 in damages founded on accusations of Fitzgerald’s failure to diversify the customer’s Morgan Stanley account. On November 20, 2017, another customer initiated investment related complaint pertaining to Fitzgerald’s conduct was settled for $185,000.00 in damages supported by allegations of the customer’s account being invested in inappropriate energy sector equities during the period in which Fitzgerald was employed by Morgan Stanley.
Fitzgerald’s employment with Morgan Stanley was terminated on June 1, 2018.
