The Green Firm recently filed a Statement of Claim for compensatory damages against Morgan Stanley Smith Barney, the supervising brokerage firm of a broker who allegedly ignored our client’s overexposure to instability in the equities market by allowing her to keep all of her life-savings in Wachovia bank stock that crashed in 2008. Not only did the broker allegedly fail to warn our client about her lack of diversification, but when the stock crashed, he allegedly ignored his own company’s continual ratings downgrades of the stock. Our client was forced to alert the broker to the tremendous losses in her account, rather than vice versa!