Hotel Sues Morgan Stanley Over Casino Deal

Law360, New York (February 9, 2007, 12:00 AM EST) -- Resorts International Hotel Inc. has filed a lawsuit against Morgan Stanley alleging the firm used its chief executive to acquire a site to build an Atlantic City casino, interfering with Resorts’ chance to develop a casino itself.

The suit was originally filed on Jan. 4 in the U.S. District Court for the District of New Jersey, and the complaint was amended on Jan. 23.

The amended complaint alleges that Morgan Stanley induced Audrey Oswell, Resorts’ former CEO, to divert its opportunity to purchase a 20-acre tract...
To view the full article, register now.