Morgan Stanley Execs Fight Suit Over $45B In Firm Pay

Law360, New York (September 16, 2010, 7:38 PM EDT) -- Lawyers for Morgan Stanley and its management sought to snuff out a shareholder lawsuit over $45 billion in recent compensation awards, telling a judge Thursday that the investment bank needed well-paid employees to steer it through the recession.

Cravath Swaine & Moore LLP attorney Evan R. Chesler — who is representing Morgan Stanley executives, including Chairman John J. Mack and President and CEO James P. Gorman — said in Manhattan Supreme Court that the case should be thrown out because it fails to identify any specific...
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