Founded in 1935, Morgan Stanley is global financial services provider headquartered in New York City. On Sept. 21, 2008, Morgan Stanley announced its decision to change its status from an investment bank to a traditional bank holding company.
The year of 2008 also was the year in which Morgan Stanley found itself at the center of legal controversy over two complex structured investment products known as Pinnacle Notes Series 9 and 10. In November 2008, the two notes entered into a mandatory redemption because of their connection to toxic collateralized debt obligations (CDOs) and financially troubled companies like Lehman Brothers Holdings, Freddie Mac and Fannie Mae. Investors, meanwhile, contend that they were unaware of the high-level of risks involved with the Pinnacle Notes Series 9 and 10. Now they are expected to lose their entire original investment in the Pinnacle Notes Series 9 and 10.
If you are an individual or institutional investor and have concerns or questions about your Morgan Stanley investments and, specifically, investments in Pinnacle Notes Series 9 and 10, contact Mark Maddox. We can evaluate your situation to determine if you have a claim.