Discover To Pay Morgan Stanley $775M To End Suit

By Hilary Russ

Law360, New York (February 12, 2010, 5:48 PM ET) -- Discover Financial Services has agreed to pay $775 million to former parent company Morgan Stanley to end a dispute over the payout from an antitrust suit that the credit card issuer filed against rivals in 2004.

In the settlement, revealed Friday in filings with the U.S. Securities and Exchange Commission, Discover and Morgan Stanley agreed to drop claims and counterclaims against each other in the Supreme Court of the State of New York, County of New York, stemming from a dispute over how to split the...
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