Morgan Stanley Exec Compensation Suit Put On Hold

Law360, New York (February 22, 2007, 12:00 AM EST) -- A derivative lawsuit challenging the massive departure check to Morgan Stanley’s ousted former co-president has been stayed, the investment bank has announced.

In its annual report to the U.S. Securities and Exchange Commission filed Feb. 13, the Wall Street firm said the case had been indefinitely halted by mutual consent.

The lawsuit, filed July 19, 2005 in a New York state court, challenged Morgan Stanley’s decision to give former co-president Stephen Crawford a $32 million exit payment that followed a shareholder revolt over claims of poor...
To view the full article, register now.