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Morgan Stanley Ordered to Pay $11.7 Million Over Alleged Unauthorized Trading


An arbitration panel ordered Morgan Stanley to pay nearly $12 million to an investor who accused the company of negligence and breach of fiduciary duty over an alleged unauthorized covered call options strategy.

Anthony Nowak filed his claim against the wirehouse in August 2021, according to the Dec. 1 arbitration award. 

The alleged unauthorized covered call writing strategy resulted in large positions in technology stocks such as Nvidia, Tesla Motors, Apple, Salesforce, and Microsoft , according to the arbitration award.  


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