Investors' Compensation Suit Too Broad, Morgan Stanley Says

Law360, New York (March 01, 2012, 7:27 PM ET) -- Morgan Stanley told a New York state appeals court Thursday that a shareholder lawsuit went too far by alleging that the $45 billion Morgan Stanley paid its employees over three years was excessive while the company was performing poorly.

"It has never been done on an aggregate basis for an entire company," Daniel Slifkin of Cravath Swaine & Moore LLP, who represents Morgan Stanley's executive officers and Morgan Stanley as a nominal defendant, told a five-judge panel for the Appellate Division of the New York Supreme...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers