Judge Nixes Shareholder Suit Over Morgan Stanley Pay

Law360, New York (December 13, 2010, 2:20 PM EST) -- A New York judge has thrown out a shareholder lawsuit challenging Morgan Stanley and more than a dozen of its officers and directors over $45 billion worth of recent compensation to the company's employees, because of the plaintiffs' failure to make a presuit demand on the investment bank's board.

On Thursday, Judge Shirley W. Kornreich of the Supreme Court of the State of New York, County of New York, granted a motion to dismiss with prejudice the suit filed on behalf of Morgan Stanley's independent directors...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.