Morgan Stanley Removes Advisers' Commission Suit

Law360, New York (September 27, 2010, 5:09 PM EDT) -- Morgan Stanley Smith Barney LLC has removed a proposed class action over unpaid commissions to federal court, saying the damages sought by former California financial advisers are high enough to move the case.

The financial advisory firm moved the suit Thursday from the Superior Court of the State of California, County of Riverside, to the U.S. District Court for the Central District of California, arguing the amount of controversy exceeds $5 million, the minimum necessary to move a case under the Class Action Fairness Act....
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