Morgan Stanley Wins Arbitration Of Tribe's $26M RICO Suit

Law360, New York (May 20, 2013, 5:32 PM EDT) -- A Florida federal judge on Friday refused to permit an Indian tribe to sue Morgan Stanley Smith Barney LLC for allegedly aiding an embezzlement spree that drained $26 million from tribal coffers, rejecting the tribe's bid to invalidate an arbitration agreement.

U.S. District Judge Marcia G. Cooke held that the Miccosukee Tribe of Indians of Florida must arbitrate its claims against Morgan Stanley, ruling that former tribal chairman Billy Cypress had the legal authority to act on its behalf despite allegations that he was engaged in...
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