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...
To view the full article, register now.

Documents

Related

Sections

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

Law Firms

Companies

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.