Morgan Stanley, Time Warner Settle Shareholder Suits

Law360, New York (April 9, 2007, 12:00 AM EDT) -- Investment bank Morgan Stanley and media company Time Warner have resolved shareholder suits filed in three states, according to a regulatory filing by the Wall Street firm.

The bank told the U.S. Securities and Exchange Commission in its quarterly statement that in February and March the parties had entered into confidential agreements settling all outstanding claims in the coordinated California, Ohio and West Virginia actions.

The settlements take care of allegations against other banks and investment companies, including Citigroup Global Markets Inc., and Salomon Smith Barney...
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