Former Morgan Stanley Advisors Win Claims for Forfeited Deferred Compensation Against Morgan Stanley

CLEVELAND, OH and PHILADELPHIA, PA / ACCESSWIRE / March 25, 2024 / A group of Illinois advisors formerly affiliated with Morgan Stanley have been awarded in excess of $3,000,000 in a case to recover deferred compensation that Morgan Stanley required them to forfeit when they left the firm.

The panel of FINRA arbitrators also awarded the winning claimants case expenses, interest, and attorney's fees. The advisors were represented at trial by the law firms of Rosca Scarlato LLC and Salmanson Goldshaw PC.

"We're pleased that the panel of arbitrators unanimously found that Morgan Stanley is responsible to pay its former employees for the deferred compensation that it forced them to forfeit when they left the firm," said attorney Alan Rosca, one of the members of the trial team. "Our firms are continuing to pursue similar claims against Morgan Stanley on behalf of a substantial number of other financial advisors across the country, for the deferred compensation they were required to leave behind when they parted ways with their former employer," said attorney Rosca.

The trial team was comprised of attorneys Scott Goldshaw and Christen Casale of Salmanson Goldshaw, and Alan Rosca of Rosca Scarlato, supported by their colleagues at both firms.

The advisors alleged that the firm improperly deferred compensation for periods of time far in excess of the periods set forth by ERISA and unlawfully forced them to forfeit the compensation upon their departure from Morgan Stanley.

"We appreciate the confidence our clients have shown in our firms in pursuing these claims, and we couldn't be happier with the results achieved. We're looking forward to the upcoming arbitrations," said attorney Scott Goldshaw.

"We are filing new claims in FINRA arbitration on behalf of other Morgan Stanley advisors and are also continuing to evaluate other broker-dealer firms' compensation programs to determine whether they are in violation of the ERISA rules," said attorney Alan Rosca.

Visit www.AdvisorCompLaw.com for additional information about the Rosca Scarlato firm and its deferred compensation cases, and important disclosures. Visit www.salmangold.com for additional information about the Salmanson Goldshaw firm and its employment law practice, and important disclosures. This release includes attorney advertising.

Contact & media inquiries:

• Alan Rosca
• arosca@rscounsel.law
• 216-570-0097

SOURCE: Rosca Scarlato LLC