Ex-Morgan Stanley Risk Officer Says He Was Improperly Fired

Law360, New York (August 1, 2012, 10:17 PM EDT) -- A former Morgan Stanley Smith Barney LLC risk officer accused the retail brokerage and its parent Morgan Stanley & Co. Inc. in a $1 million suit Tuesday of wrongfully firing him for reporting allegedly fraudulent securities schemes by other employees.

In a complaint filed in New York federal court, Clifford Jagodzinski claims that the company had fired him in retaliation for reporting allegedly fraudulent schemes of other employees, including wealth manager Harvey Kadden, to his supervisors. Kadden, he says, was “flipping” securities in a way that...
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