Michael Wagner: $5 Million Pending Complaint Against Morgan Stanley Broker

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that Atlanta, Georgia-based Morgan Stanley broker/adviser Michael Wagner has received two pending customer complaints, including one seeking more than $5 million in damages. The investor advocates at MDF Law are interested in hearing from investors who have complaints regarding Mr. Wagner (CRD# 4465334). Call our attorneys for free at 212-203-9300 to discuss recovering your losses.

Customer: Michael Wagner Misrepresented Options Strategy

In August 2021 a customer alleged Michael Wagner, while employed at Morgan Stanley, made misrepresentations regarding a stock option strategy he utilized in the customer’s account. The customer seeks unspecified damages in the pending complaint.

In November 2020 a customer also alleged Michael Wagner, while employed at Morgan Stanley, misrepresented material facts regarding an option strategy in their accounts. The customer is seeking $5,162,453 in damages in the pending complaint.

For reference, “misrepresentation” refers to the false representations or omissions of information considered “material” to a customer considering a securities transaction. An investor acting on misrepresentations may decide to make an unsuitable transaction, that is, a transaction that is not considered appropriate for their investment profile—a set of information that takes into account the investor’s age, net worth, investment experience, investment goals, income, and other factors. Brokers and investment advisers are required to recommend only suitable investments for their clients, and are forbidden by FINRA rules from employing fraudulent or deceptive means to induce the purchase or sale of securities. Brokers and investment advisers who misrepresent material facts may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state securities regulators.

Atlanta Based Wagner Has Two Pending Customer Complaints over Options

Michael Wagner has 19 years of securities industry experience and has been registered with Morgan Stanley in Atlanta, Georgia since 2012. He was previously registered with Merrill Lynch in Atlanta, Georgia from 2001 until 2012. He has passed three securities industry examinations: Series 66 (Uniform Combined State Law Examination), which he obtained on August 6, 2002; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; and Series 7 (General Securities Representative Examination), which he obtained on November 14, 2001. He currently holds securities licenses in 48 US states or territories.

According to his BrokerCheck report, he has received two pending customer complaints.

Investors who have complaints regarding investments made with Morgan Stanley broker/adviser Michael Wagner may be able to recover losses. Call 212-203-9300 to speak with the seasoned investor advocates at MDF Law about your options. Your consultation will be free and confidential.

Did You Lose Money Investing in Options with Michael Wagner?

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