Last updated March 20, 2023
Former Morgan Stanley Investment Advisor Allen Israel Hershberg Charged with Soliciting Unapproved Investments
Allen Israel Hershberg (CRD#: 1112312), of Beverly Hills, California, was “permitted to resign” from Morgan Stanley Smith Barney, LLC’s Beverly Hills 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 from Allen Hershberg?
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.
