On Friday, Shares of Morgan Stanley(NYSE:MS), added 1.07% and closed at $32.07 in the last trading session. The last trading range of the stock ranges between $31.89 and $32.79. The Securities Arbitration Law Firm of Klayman & Toskes, P.A. (“K&T”), has opened an investigation into potential Financial Industry Regulatory Authority (FINRA) sales practice violations by Morgan Stanley and its financial advisors after Morgan Stanley (MS) was recently charged with “dishonest and unethical conduct” by the State of Massachusetts Securities Division, as stated by Reuters. According to the Massachusetts Securities Division Complaint, Morgan Stanley was “running unethical sales contests to cross sell banking business to brokerage customers.”
K&T founder, Lawrence L. Klayman, Esq. comments, “Our investigation focuses on whether Morgan Stanley used high pressure sales tactics motivated solely by paid incentives and not the customer’s best interests.” According to Massachusetts regulators, Morgan Stanley sponsored sales contests for opening Portfolio Account Loans that offered the following bonuses to employees; “$1,000.00 for 10 loans; $3,000.00 for 20 loans; and $5,000.00 for 30 loans.” Mr. Klayman explains, “Morgan Stanley offered employee training to ‘overcome objections’ that customers might have about opening a loan account. This training is inconsistent with the fiduciary duties Morgan Stanley owes its customers, instead customers should be warned about the risks of leverage.”
Weatherford International Plc(NYSE:WFT), dropped – 3.09% and closed at $5.96 in the last trading session. The last trading range of the stock ranges between $5.88 and $6.21. The company’s Market capitalization is $5.34 Billion with the total Outstanding Shares of 896.15 million. Weatherford International public limited company, together with its auxiliaries, operates as a multinational oilfield service company worldwide. It offers equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company operates through three business groups: Formation Evaluation and Well Construction, Completion and Production, and Land Drilling Rigs. The Formation Evaluation and Well Construction business group provides managed-pressure drilling, drilling services, tubular running services, drilling tools, wireline services, testing and production services, re-entry and fishing services, cementing, liner systems, integrated laboratory services, and surface logging systems. The Completion and Production business group offers artificial lift systems, stimulation and completion systems.
Hewlett Packard Enterprise Co (NYSE:HPE), lost -1.06% and closed at $21.53 in the last trading session. The last trading range of the stock ranges between $21.48 and $21.95. The company’s Market capitalization is $35.48 Billion with the total Outstanding Shares of 1.67 billion. During the 52-week trading session the minimum price at which share price traded, registered at $11.62 and reached to max level of $23.53. Hewlett Packard Enterprise Company provides technology solutions to business and public sector enterprises. It operates through Enterprise Group, Software, Enterprise Services, and Financial Services segments. The Enterprise Group segment offers industry standard servers and business critical systems to address the array of its customers’ compute needs; storage products, such as 3PAR StoreServ, a storage platform; and networking products comprising switches, routers, points, controllers, wireless local area network, and network administration products. This segment also provides software-defined networking and unified communications capabilities; and support and consulting services. The Software segment offers software to capture, store, explore, analyze, protect, and share information and insights within and outside organizations; HP Vertica, an analytics database technology for machine, structured, and semi-structured data; and HP IDOL, an analytics tool for human information, in addition to solutions for archiving, data protection, eDiscovery, information governance, and enterprise content administration. This segment also provides application delivery administration, enterprise security, and IT operations administration software products. The Enterprise Services segment offers technology consulting, outsourcing, and support services in infrastructure, applications, and business process domains; and application and business services that assist clients to develop, revitalize, and manage their applications and information assets.