Oct. 20, 2026
Investment gains don't shield Morgan Stanley from elder abuse claims, court rules
A state appeals court revived claims against Morgan Stanley and a financial adviser, ruling that an elderly client's investment gains do not preclude liability for alleged financial abuse and that the trial court improperly restricted evidence of earlier conduct.
A California appeals court reinstated an elder financial abuse suit against Morgan Stanley & Co. LLC and adviser John R. Privitelli, ruling gains do not bar liability.
The 2nd District Court of Appeal, Division Three, found the trial court improperly limited evidence to 21 months of a nearly two-decade relationship. It ordered a new trial, except on one theory. DeVone v. Morgan Stanley & Co., LLC (Oct. 8, 2026, No. B339219) (unpublished opinion).
Maurice ...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$895, but save $100 when you subscribe today… Just $795 for the first year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In