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.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.