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...
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