Morgan Stanley Hit With Investment Advice Suit

Law360, New York (December 20, 2010, 8:11 PM EST) -- Morgan Stanley Smith Barney LLC has been hit with a putative class action that alleges the company charged investors advisory fees for two investment funds while asking them to sign a document acknowledging that they did not receive investment advice.

The suit, lodged by named plaintiff Michael Bruck in the U.S. District Court for the District of Massachusetts on Friday, accuses the company of encouraging investments in two Morgan Stanley-managed funds while also requiring that investors sign off on a statement that the company did not...
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