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Former Morgan Stanley Investment Advisor Allen Israel Hershberg Charged with Soliciting Unapproved Investments

By: Reif Law Group, P.C.

Allen Israel Hershberg (CRD#: 1112312), of Beverly Hills, was “permitted to resign” from Morgan Stanley Smith Barney, LLC’s Beverly Hills, California office in July 2022 due to concerns about outside real estate investments not approved by the investment firm and recommending those investments to Morgan Stanley clients and others, including through limited liability companies that Hershberg created.

Hershberg was then barred from FINRA on November 11, 2022.  Without admitting or denying the findings, Hershberg consented to the sanctions and to the entry of findings that he failed to provide documents and information regarding the firm’s allegations. FINRA permanently barred Hershberg from the securities industry.

Hershberg was previously accused of making unsuitable investment recommendations in June 2008. 

Our law firm is looking into claims of investment losses by former customers of Allen Israel Hershberg and his former employer Morgan Stanley. 

Can I recover my investment losses?

If you suffered investment losses in real estate recommendations by ALLEN HERSHBERG or Morgan Stanley, contact us immediately. We have extensive experience representing clients in FINRA arbitrations and securities litigation and will work to help you recover your investment losses. Time is of the essence in these claims. Contact us today for a free consultation. 

Brandon S. Reif is the managing partner at Reif Law Group, P.C. and a distinguished trial attorney with a track record of delivering successful trial verdicts and arbitration awards. Mr. Reif is Martindale-Hubbell® AV Preeminent™ peer-rated, AV Preeminent™ – Judicial Edition-rated, and a Client Champion Platinum™ client-rated attorney. He has been voted one of Los Angeles Magazine’s “Top Attorneys in Southern California” from 2011 to 2021 and Southern California’s Super Lawyer® from 2011 to 2021 (elevated from Rising Stars® in 2015). Mr. Reif represents the securities and financial services industries in all types of lawsuits and arbitrations, including customer, vendor, sponsor, and insurer disputes. If you have a question about this article you can contact Mr. Reif by visiting his biography page here.