Morgan Stanley Suits Over Conflicts Tossed

Law360, New York (February 4, 2009, 12:00 AM EST) -- A federal judge has tossed two long-running securities class actions filed on behalf of mutual fund investors against Morgan Stanley that accuse the financial services firm of failing to alert investors to practices that created potential conflicts of interest.

Judge Barbara S. Jones of the U.S. District Court for the Southern District of New York dismissed the two cases in an order filed late Tuesday, ruling that Morgan Stanley had no duty to disclose those purported conflicts of interest.

“In sum, plaintiffs have failed to plead...
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