Litigation

The relationship disintegrated because of a dispute about where to best place client trades.

It’s at least the fifth time this year that the bank is suing a former advisor for allegedly violating a non-solicitation agreement.

A former employee suing the firm for racial discrimination says he was not properly notified of changes in how Morgan resolves disputes.

The firm had sued a former $660 million team that moved in September to Stifel.

The bank’s effort to show that the advisors violated non-solicitation agreements was “far from persuasive, never mind conclusive,” the judge ruled.

The advisors also reject the wirehouse’s claims they violated non-solicitation agreements.

The firm claims it is also missing important documents related to a large institutional client.

The advisors say they violated no contracts and took no confidential client information when they resigned from the bank.

This is the third such suit the bank has filed against former advisors in recent months.

The advisor, who penned a memoir about drug addiction, accuses the firm of wrongful termination.

The advisors agreed not to solicit clients and to return confidential information to the bank.

The two advisors have already transferred about $160 million in client assets, according to their former employer.

The dispute pits four advisors against big Wall Street names: Wells Fargo, Morgan Stanley, Raymond James and Merrill Lynch.

The barred onetime Questar Capital and Woodbury Financial rep had pleaded guilty to the scam, which he says stemmed from a gambling addiction.

The firm filed a motion arguing one of its ex-brokers did not challenge the proceedings until after the panel ruled against her.

At least 17 individuals invested $13 million in the scheme, and many lost 'substantial portions' of their life savings, prosecutors say.

The dispute centered on the firm’s handling of Puerto Rican municipal bonds.

The No. 1 IBD cleared him of any wrongdoing then said he still faced the probe after leaving the firm months later, according to the lawsuit.

Scott Wolas assumed other people’s names to pose as a real estate agent, bartender, retired paleontologist and a registered rep, investigators say.

DaRayl Davis spent client funds on a luxury mansion, theater tickets and car rentals, federal prosecutors say.