Widow of Home Shopping Network Co-Founder Sues Investment Firm

Lynnda Speer, the widow of Roy Speer and personal representative of his estate, has brought claims against Morgan Stanley alleging the firm boosted commissions through excessive securities trades, failed to properly supervise its brokers, and did not to act in the best interests of her late husband. Roy Speer co-founded the Home Shopping Network in 1982 and died in 2012. The case has been in arbitration proceedings since January and is expected to continue into July. Lynnda Speer is seeking over $170 million in damages.

See Suzanne Barlyn, Morgan Stanley Fights Claim by Home Shopping Founder’s Widow-Filing, Rueters, Apr. 27, 2015.