Fla. Launches Morgan Stanley Price Gouging Probe

Law360, New York (December 9, 2008, 12:00 AM EST) -- The state of Florida has started a formal investigation into whether Morgan Stanley and its subsidiary TransMontaigne Inc. engaged in gasoline-price gouging in the wake of Hurricane Ike.

Florida Agriculture and Consumer Services Commissioner Charles Bronson and Attorney General Bill McCollum said Tuesday that the financial services firm and its unit may have price gouged consumers after the governor declared a state of emergency in September before Hurricane Ike hit.

Bronson and McCollum said the two agencies received thousands of price gouging complaints on gasoline prices...
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