10.0David P Neuman
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WARNING! Impending Investigation–TRAVIS SHANNON and MORGAN STANLEY SMITH BARNEY

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27
Aug

WARNING! Impending Investigation–TRAVIS SHANNON and MORGAN STANLEY SMITH BARNEY

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Travis Shannon and Morgan Stanley Smith Barney

We are currently investigating allegations made against Travis S. Shannon of Santa Barbara, California.  Travis Shannon was recently suspended by FINRA (the Financial Industry Regulatory Authority) for two years for his involvement with firms that he failed to disclose to his employer, Morgan Stanley Smith Barney.

FINRA alleged that Travis Shannon sold a number of investments in three companies to his customers (several of whom were also customers of Morgan Stanley Smith Barney).  Travis Shannon solicited his customers to invest in Aerobat Aviation, Inc., a company in which he was the CEO, which developed unmanned aerial vehicles, or drones.  Travis Shannon also solicited investors to invest in companies which were identified as “TC” – which bought and sold used computer network equipment; and “Zindigo” – which was a social commerce platform for the fashion industry.  It was alleged that Travis Shannon failed to disclose the sales of these securities to his employer, Morgan Stanley Smith Barney, and that this violated FINRA rules.  FINRA suspended Travis Shannon two years from the securities industry, fined him $25,000, and required him to disgorge $138,000 in commissions received from the sales of these securities.

Travis Shannon was employed as a financial advisor with Morgan Stanley Smith Barney from September 2008 to July 2013.  He was fired by Morgan Stanley in July 2013 for the conduct described above.  Shannon also filed for bankruptcy numerous times between 2012 and 2014.

Broker-dealers like Morgan Stanley Smith Barney have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives.  Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.  If you have lost money through Travis Shannon or Aerobat Aviation and want to hear about ALL legal options, please visit https://www.israelsneuman.com/ or call us at 720-599-3505.

Shannon FINRA AWC

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.
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