A sharp sell off in shares of Morgan Stanley suggested that the venerable investment house, spun out of the old JP Morgan & Co. in 1935, might suffer the same fate as Merrill Lynch which last month agreed to sell out to Bank of America. See our September 15, 2008 blog entry.
In today’s trading, Morgan Stanley shares closed down 25.9% to $12.45 and has fallen a staggering 83% since June 2007. “Morgan Stanley is now facing the same type of credit woes that took down other brokerage giants including Bear Stearns, Lehman Brothers and Merrill Lynch.
If you have experienced investment losses related to the shares or product offered by any of these financial institutions, contact our office for a free case evaluation.