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Eric Kleiner Fired by Morgan Stanley: TerrAscend Cannabis Complaints
Did you invest in cannabis investments and other stocks from Eric Kleiner, formerly of Morgan Stanley? The securities and investment loss law firm of Israels & Neuman is reviewing claims made regarding Eric Kleiner, who formerly worked at Morgan Stanley in a New York City office. He was fired by Morgan Stanley in March 2025.
Morgan Stanley Terminates Eric Kleiner
FINRA’s BrokerCheck discloses that Morgan Stanley fired Kleiner regarding “Allegations related to recommendations to customers of non-firm approved and firm restricted investments, including ones in which Mr. Kleiner was also invested, failure to fully disclose outside investment, and use of personal device to engage in unauthorized disclosure of confidential, internal use only Firm information.”
Essentially, Kleiner was accused of selling investments or using an investment strategy that were not approved by Morgan Stanley. Under FINRA Rules 3270 and 3280, financial advisors are supposed to disclose to their brokerage firms all investments that are sold by the advisor. FINRA requires the advisors to do this in an effort to prevent theft or selling products that are not vetted or researched.
Morgan Stanley is defending five customer complaints regarding Kleiner’s conduct. Each of these cases was filed in 2025. It is believed that some of the complaints involve investments in a cannabis company called TerrAscend.
Complaints Against Eric Kleiner
From September 2016 to March 2025, Eric Kleiner was associated with Morgan Stanley. He was also previously registered with other firms since 2000. In addition to the five current complaints pending, Kleiner was also the subject of three other customer complaints in the past.
Did Morgan Stanley Have Supervisory Failures?
Morgan Stanley has an obligation to reasonably monitor the conduct of its advisors under FINRA rules. It could be liable if it failed to reasonably supervise him, considering factors such as the numerous tax liens against him.
Israels & Neuman Represents New York Investors
We represent investors throughout the United States as well as New York, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud. If you were a client of Eric Kleiner and believe your financial advisor acted improperly, you may be entitled to recover losses through FINRA arbitration.