Looking to sue Morgan Stanley? Small claims court is an option, and you may have others…
At FairShake we’ve helped thousands of people ripped off by big companies like Morgan Stanley. And we’ve helped get millions of dollars in settlement offers…
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Tired of hitting dead ends when trying to get a refund from Morgan Stanley? Feeling like there’s nowhere to turn?
You’re not alone. It seems like many people have tried all the Morgan Stanley customer service options, but still feel unheard.
There are different ways to file a complaint against Morgan Stanley, but none have the same power and leverage as taking legal action.
So, if you’re thinking of suing Morgan Stanley, where do you even start? You might expect there to be tons of class action lawsuits against them, but it’s often more complicated than that.
What many people don’t know is that hidden clauses buried deep within their contracts frequently allow companies like Morgan Stanley to push legal claims into the private realm of consumer arbitration, away from conventional courts.
But here’s the thing: your Morgan Stanley contract doesn’t have the power to take away your right to pursue legal action by suing them.
Here’s what you can do…
Learn more about the consumer arbitration process here.
If you’re ready to sue Morgan Stanley in Small Claims Court, read on below:
Before you can run off to your local courthouse and sue Morgan Stanley in small claims court, you have to make sure your case qualifies. There are some limiting factors for small claims courts that include the following:
The compensation you ask for. Small claims courts deal with a very specific set of issues and can only offer in most cases monetary compensation so if there’s any non-monetary item for which you believe you deserve compensation it simply has to be converted into its dollar value and added to that total award you are asking for.
The amount of compensation you ask for. There are state imposed limits on how much you can ask for in small claims courts. In some cases it could be as low as $2,500 but for most situations it’s $5,000 or $10,000. You can find a list of all 50 states’ monetary limits here.
If your claim doesn’t fall within the limits of your state’s small claims court, you’ll have to arbitrate your claim instead.
Assuming your case qualifies your next step is to write your demand letter. The demand letter is required by most small claims courts and it’s simply a fast and short letter that asks the company to fix the problem voluntarily before you sue Morgan Stanley in small claims court.
This letter only has to be a few sentences telling the company who you are (your name, address, phone number and account number), what the problem is, and what you want from them. After that mail a hard copy to their official legal address using certified mail or some form of post that allows you to confirm receipt.
According to our most recent research, Morgan Stanley is legally based in Delaware and receives mail at this address. (Check your contract to confirm if this is the right address for legal notices):
Morgan Stanley Smith Barney LLC
C/O THE CORPORATION TRUST COMPANY
CORPORATION TRUST CENTER 1209 ORANGE ST
WILMINGTON, DE 19801
If you would like examples of demand letters or more information about how to write them, you can find an excellent guide here.
If they didn’t respond to your letter now you sue Morgan Stanley in small claims court. To start this process you have to fill out the right court documents.
The right forms should be found on your state court website. Find your state court website here.
Make sure you have the right number of copies for the next step. Most states require three or four.
With those forms in hand, you move to the official legal “filing”. This has specific steps too.
Each court is different. On your state court website you can find the rules for this process which usually require you to hand deliver the forms to the court (though some let you do it by fax, mail, or online).
You have to pay the filing fee to sue Morgan Stanley in small claims court which should be listed on your court website too. Once paid, the clerk will take the forms, give you back your stamped copies, and assign a court date.
You’ve worked hard, but it’s not over yet. In order to sue Morgan Stanley in small claims court you now need to “serve” the company, which is a legal term for letting them know they are being sued.
Look at your court website for guidelines or search for “[your state] small claims service of process”. Follow each one specifically.
Courts have seemingly odd rules about serving someone papers, but make sure you follow them all or your case might be dismissed with no compensation.
When it comes time for your hearing, be sure to show up to the right building, on time.
Bring with you the court documents you filed and any evidence you have. You will present that all to the judge and explain why you decided to sue Morgan Stanley in small claims court and why you deserve compensation.
The company may or may not oppose you in court, but either way, the judge will make a decision.
Ready to sue Morgan Stanley in small claims court?
If this sounds too hard and expensive, try consumer arbitration instead…
Get justice when a business lets you down:
FairShake’s Ultimate Guide to Consumer Complaints
Learn More