Affidavit of Merit Received in Eccleston Law’s $25 Million Legal Malpractice Action

Posted on April 1st, 2021 at 9:36 AM

When Christopher Armstrong and Randall Kiefner filed their complaint alleging a “textbook example of unethical practices by lawyers”, defendants Michael Taaffe and Shumaker Loop answered that the complaint was “frivolous”.

Not so fast. New Jersey is one state that requires an Affidavit of Merit as to the merit of the allegations of the complaint.  The statute is designed to weed out “frivolous” claims by requiring a plaintiff to obtain and file in any professional malpractice action an affidavit from an appropriately licensed professional attesting that the defendant’s actions deviated from an applicable standard of care.

“By definition, this means that the complaint is not frivolous”, said James Eccleston.  The complaint details the many ethical breaches of defendants, through their actions, inactions, negligent misrepresentations and omissions, in what was a botched employment transition from Charles Schwab to Morgan Stanley.  Given that defendants boast that plaintiffs received “the same kind of individual and industry appropriate advice” as defendants’ other clients, Eccleston Law welcomes hearing from other financial advisors who have suffered at the hands of Michael Taaffe and Shumaker Loop.

A copy of the complaint is available upon request.

Related Attorneys: James J. Eccleston

Tags: eccleston, eccleston law, complaints, morgan stanley

Return to Archive

TESTIMONIALS

Previous
Next

As a financial advisor with over 20 years of experience, I feel fortunate to call Jim my attorney and friend. He is a fantastic lawyer and trusted advisor. He is skilled in the matters necessary to do the job well. He uses his thoughtful approach and calm demeanor to achieve a positive outcome for the client. If you want to feel confident that nothing will be missed and that you will be represented in a highly professional manner, call Jim Eccleston.

Bill C. and Dan M.

LATEST NEWS AND ARTICLES

April 1, 2025
CFP Board Releases AI Ethics Guide for Its Certificants

The CFP Board has released a "Generative AI Ethics Guide" to address the growing use of artificial intelligence in financial advising.

April 1, 2025
BrokerCheck Report: Examining Customer Disputes Against Centaurus Financial, Inc. Broker Troy N. Tremblay

Troy N. Tremblay (CRD #4625407) of Centaurus Financial, Inc. (doing business as Tremblay Financial Services), has or has had three customer disputes, according to his BrokerCheck report.

April 1, 2025
A Look at Regulatory Events and Customer Allegations Against Stifel, Nicolaus & Company Inc. Broker Chuck A. Roberts

Chuck A. Roberts (CRD #2064602), currently registered with Stifel, Nicolaus & Company Incorporated, has or has had two regulatory events and twenty-five customer disputes over the course of his career in the financial services industry.