Morgan Stanley Settles Fuel Price-Gouging Probe

Law360, New York (July 13, 2009, 12:00 AM EDT) -- Morgan Stanley Capital Group Inc. and a subsidiary have reached a $2.275 million settlement with the state of Florida to resolve claims of gasoline price gouging in the aftermath of Hurricane Ike last September.

Attorney General Bill McCollum and Florida Agriculture and Consumer Services Commissioner Charles Bronson said Monday the multimillion-dollar settlement was the largest ever paid under the state's price-gouging law and could be the largest price-gouging settlement ever obtained in the U.S.

The settlement is also believed to be the first in which a...
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