Morgan Stanley On FINRA Arbitration Claim Over Facebook IPO: Not Our Client
Investor Uma Swaminathan of East Brunswick, N.J., filed a claim with the arbitration unit of the Financial Industry Regulatory Authority in July, regarding Morgan Stanley’s role in Facebook’s botched initial public offering. However, there’s one problem: Morgan Stanley said Swaminathan was not one of its customers.
Investor Uma Swaminathan of East Brunswick, N.J., filed a claim with the arbitration unit of the Financial Industry Regulatory Authority in July, regarding Morgan Stanley’s role in Facebook’s botched initial public offering. However, there’s one problem: Morgan Stanley said Swaminathan was not one of its customers.
Reuters reported that Morgan Stanley filed a complaint with the U.S. District Court for the Southern District of New York, claiming that Swaminathan ordered Facebook shares through Vanguard Financial Group, and seeking to halt the FINRA arbitration.
Swaminathan
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