Investors Sue Morgan Stanley For Unsuitable Sale of Energy Securities

Kirk J. Gill of Tucson Arizona a stockbroker formerly employed by Morgan Stanley Smith Barney is referenced in a customer initiated investment related arbitration claim in which the customer requested $238,316.00 in damages founded on allegations that the customer was sold unsuitable energy sector securities between December of 2013 and March of 2016 during the time that Gill was associated with Morgan Stanley. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-03245 (Sept. 17, 2020).

FINRA Public Disclosure reveals that Gill has been identified in sixteen additional customer initiated investment related disputes regarding accusations of his wrongdoing while he was employed by Salomon Smith Barney and Morgan Stanley. A customer filed an investment related complaint regarding Gill’s activities where the customer sought unspecified damages based upon allegations including breach of fiduciary duty by the stockbroker and allegations of misrepresentations relating to over-the-counter equities. Another customer initiated investment related complaint concerning Gill’s conduct was settled for $30,000.00 in damages supported by accusations including that unauthorized trades were effected in the customer’s account and that a contract between the customer and the securities broker dealer was breached.

Gill is the subject of a customer initiated investment related arbitration claim which was resolved for $150,000.00 in damages founded on allegations of bad investment recommendations for the customer. FINRA Arbitration No. 17-00335 (Jan. 29, 2018). Another customer initiated investment related arbitration claim regarding Gill’s conduct was settled for $275,000.00 in damages based upon accusations of suitability. FINRA Arbitration No. 17-02003 (Apr. 4, 2018).

On May 21, 2018, an additional customer initiated investment related complaint involving Gill’s conduct was resolved for $38,265.71 in damages supported by allegations of an overconcentration of oil stocks in the customer’s account by the stockbroker.

Gill is referenced in a customer initiated investment related arbitration claim which was settled for $185,000.00 in damages founded on accusations that the customer was placed in common and preferred stock, corporate debt and direct participation program or limited partnership investments which were in no way suitable for the customer. FINRA Arbitration No. 18-00762 (Nov. 20, 2018). On February 6, 2020, a customer initiated investment related arbitration claim concerning Gill’s conduct was resolved for $14,999.00 in damages based upon allegations of inappropriate energy stocks from 2011 to 2016 because of Gill’s actions at Morgan Stanley.

Gill is also the subject of a customer initiated investment related arbitration claim which was settled for $130,000.00 in damages supported by accusations of Gill placing the customer in common and preferred stock positions that were unsuitable for the customer and which led the customer to experience losses between December of 2013 and March of 2016. FINRA Arbitration No. 19-00775 (Aug. 12, 2020).

On May 23, 2018, Gill was terminated by First Financial Equity Corporation founded on allegations that he neglected to comply with the company’s heightened supervision plan. He was registered with Taylor Capital Management Inc. between June 6, 2018 and August 20, 2019.