A plaintiff who has accused Morgan Stanley Dean Witter and one of the company’s financial advisers of unauthorized margin trading with her funds will have her day in court, Judge John W. Herron has ruled for the Philadelphia Court of Common Pleas.
Marguerita Downes, the plaintiff in Downes v. Morgan Stanley, filed suit against the investment giant and employee Scott Martin in September 2001, alleging that though she invested $200,000 with the defendants, after two years her portfolio contained only $89.29. The defendants, she claimed, executed margin trades without her permission.
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