Law360, New York (October 12, 2011, 7:24 PM ET) -- The U.S. Judicial Panel on Multidistrict Litigation on Wednesday consolidated in New Jersey five putative class actions accusing Morgan Stanley Smith Barney of failing to pay financial advisers and trainees overtime wages.
The panel approved the requests for consolidation, filed by four of the plaintiffs and the defendant, saying the suits involve common questions of fact, and consolidation would therefore prevent inconsistent rulings and conserve the parties' and judiciary's resources.
Morgan Stanley had suggested transferring the case to the Central District of California, where class certification was...
Morgan Stanley Adviser OT Suits Consolidated In NJ
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