Nicholas Anthony Rogers (also know as Nich Rogers and Nick Rogers) and Jim Gary Stephenson (also known as James Gary Stephenson), who are registered brokers and investment advisers with the brokerage firm Morgan Stanley in Burlingame, California, are parties to a pending customer dispute instituted against them on the allegation of the brokers making misrepresentations to their clients in respect to their investments, according to an investigation by lawyer Alan Rosca.
Securities lawyer Alan Rosca of the Rosca Scarlato LLC law firm, is investigating conduct related to the pending customer disputes against the Morgan Stanley brokers Nicholas Rogers and Jim Stephenson, Concerned investors are encouraged to contact attorney Rosca toll free at 888-998-0530, via email at arosca@rscounsel.law, or by leaving a message though the contact form on this page.
Morgan Stanley is a Financial Industry Regulatory Authority (FINRA) member firm and the registered brokers were in the employment of the firm when the alleged conducts were carried out.
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Nicholas Rogers and Jim Stephenson are The Subject of a Pending Customer Dispute
The investigation by the Rosca Scarlato securities lawyers reveals that, according to the Nich Rogers’ and James Stephenson’s FINRA Brokercheck pages, the alleged conduct was carried out between the period of September 2016 and February 2018. The client who is seeking to recover over $50,050,409 in damages from the dispute alleges that among other things, the registered brokers and investment advisers made misrepresentations to them in respect to their investments within the stated period. The clients alleged that Nicholas Rogers and Jim Stephenson engaged in misrepresentation when they recommended liquidation of customers’ investment.
Misrepresentation
Generally speaking, and without regard to any investor’s particular situation, investors and other clients trust their brokers to ensure they are provided with relevant, accurate and complete information. So, where a broker or investment adviser intentionally or negligently provides inaccurate information or the broker refuses to provide the complete information as it relates to an investment recommendation, the broker may be held to have engaged in misrepresentations.
Misrepresentations could potentially be fraudulent or negligent and could also arise from the omission of material or vital information. Generally speaking, an information or fact may be deemed to be material if where it affects the investment decision of the investors in such investments and it could relate to the risk level or returns on the investment among others. Misrepresentation might be said to be fraudulent where the broker purposefully provides the client with inaccurate information or where the broker intentionally omits material information in providing the investment recommendation to the client. It could be negligent where the misrepresented fact or omission did not occur intentionally.
For a client making the claim of misrepresentation, certain facts typically need to be established before such claims can be successful. Securities lawyers could be instrumental in helping ensure success of investor actions. Where the investor may be able to establish all of the specific points mentioned above, the broker could be held liable for the losses incurred.
In addition to this, the Broker Dealers could also potentially be held liable for these losses if they fail to adequately supervise their brokers. Where they fail to carry out this duty, they may be held jointly liable with the brokers. These are all general considerations that do not constitute legal advice and may or may not apply to any investor’s particular situation. Investors are encouraged to seek legal advice from an experienced lawyer for their particular legal situation.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Securities Lawyer Investigating
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating conduct related to the pending customer dispute involving Morgan Stanley brokers Nicholas Anthony Rogers and Jim Gary Stephenson.
The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Concerned investors with Nicholas Anthony Rogers or Jim Gary Stephenson, may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.