Morgan Stanley Exits KeySpan Antitrust Suit For $5M

Law360, New York (September 30, 2011, 4:47 PM EDT) -- The U.S. Department of Justice on Friday announced it had reached a $4.8 million settlement with Morgan Stanley in an antitrust suit alleging the global finance giant struck an arrangement with KeySpan Corp. that jacked up electricity prices for consumers.

The settlement came the same day as the DOJ lodged the antitrust suit in New York federal court accusing Morgan Stanley of violating Section 4 of the Sherman Act.

The DOJ alleged that in 2006, KeySpan and Morgan Stanley executed a financial derivative for electricity capacity...
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