Advisers' Pay Suit Against Morgan Stanley, Citi Nixed

Law360, New York (February 23, 2012, 12:25 PM EST) -- A California federal judge on Wednesday dismissed a breach of contract suit brought by a proposed class of former financial advisers accusing Morgan Stanley & Co. Inc. and others of underpaying commission fees, saying the claims were too vague.

U.S. District Judge Otis D Wright II granted a motion to dismiss the suit brought against Morgan Stanley — alongside co-defendants Morgan Stanley Smith Barney LLC and Citigroup Global Markets Inc. — but allowed lead plaintiff Austin Park to amend the complaint within 21 days to fix...
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Case Information

Case Title

Austin Park v. Morgan Stanley and Co Inc et al


Case Number

2:11-cv-09466

Court

California Central

Nature of Suit

Contract: Other

Judge

Otis D Wright, II

Date Filed

November 15, 2011

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