Did Your Broker Recommend Investing in Morgan Stanley Cushing MLP High Income Index ETN (MLPY)?

Soreide Law Group has been contacted by several clients regarding this product and is currently investigating:
Morgan Stanley Cushing MLP High Income ETN (MLPY)
52wk Range:

While energy supply and demand dynamics may be changing, the benefits are not yet felt in the profits for MLPs (Master Limited Partnerships).  Onshore crude production continues to challenge midstream operators.
Devastating oil prices have caused large losses for investors in MLPs, and in certain cases have also increased their tax burdens. Some energy MLPs are being forced to restructure their debts to prevent bankruptcy.  When they do, unfortunately MLP owners must pay income taxes on their share of the debt that was forgiven by the creditors, even though the investors received no income as a result of the restructuring.
Morgan Stanley Cushing MLP High Income Index ETN is an exchange-traded note which is issued by Morgan Stanley.  This ETN is designed to pay investors a cash payment at the maturity or early repurchase, and variable coupon payments each quarter. This is based on the performance of the underlying index, the Cushing MLP High Income Index.
It is alleged that some brokers/financial advisors, may have placed clients with otherwise conservative portfolios into the risky Morgan Stanley Cushing MLP High Income ETNs.
It is the duty of the broker/financial advisor to disclose the risks of a product to the client and to determine whether or not the investment is a suitable match for the investor given the objectives of the investor.
If your broker has recommended this high-risk Morgan Stanley Cushing MLP High Income Index ETN, in your conservative, possibly retirement portfolio, and you have experienced devastating losses, call Soreide Law Group for a consultation with an attorney at no cost to you:  888-760-6552.
Soreide Law Group represents clients nationwide before FINRA.