Morgan Stanley To Make Facebook Price Adjustments

Law360, New York (May 24, 2012, 8:10 PM EDT) -- With lawsuits and controversy over the Facebook Inc. initial public offering increasing, Morgan Stanley reportedly said Thursday that it would adjust prices on thousands of trades made that day and that certain limit orders wouldn't be filled at $43 a share or higher.

Managers of the Morgan Stanley Smith Barney brokerage joint venture gave the news to brokers during an internal conference call, Dow Jones reported Thursday.

Morgan Stanley did not immediately respond to a request for comment.

Morgan Stanley executives told brokers limit orders placed...
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