Morgan Stanley Advisers Seek Class Cert. In Pay Suit

Law360, New York (February 14, 2012, 4:06 PM EST) -- A group of former financial advisers accusing Morgan Stanley & Co. Inc. of underpaying their commission fees on Monday called for a California federal judge to certify thousands of them as a class in a suit seeking to recover the allegedly withheld earnings.

Lead plaintiff Daniel Park argued that he and the proposed class members were all similarly situated, having all lost income as a result of Morgan Stanley violating its compensation agreements with financial advisers by “skimming a portion of gross revenues received from vendors” for the...
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