Washington Redskins running back Adrian Peterson has taken Morgan Stanley Wealth Management to arbitration over a dispute with his Morgan Stanley adviser, according to published reports.
Mr. Peterson, 34, who is halfway through a two-year, $8 million contract with the Redskins and has earned an estimated $100 million during his 12-year NFL career, reportedly is arguing that he was mislead and misinformed about an investment opportunity sold to him by a Morgan Stanley broker.
No further details were available because the arbitration case has not yet been made public, and Mr. Peterson’s attorney declined to comment.
A Morgan Stanley representative responded to a request for comment on the arbitration case with the following comment: “We are defending against these claims, which we believe are without merit."
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