7th Circ. Delivers Win To Morgan Stanley Over Mail Fee

Law360, New York (March 8, 2012, 4:18 PM EST) -- The Seventh Circuit said Thursday that Morgan Stanley Dean Witter Inc. didn't violate client agreements by charging postage-and-handling fees greater than what it actually paid to send trade confirmations, affirming an Illinois federal court's dismissal of a putative class action.

The agreement doesn't imply that a handling, postage and insurance fee represents the company's cost in sending the confirmations, the appellate court said. Morgan Stanley since 2002 has charged at least $5 to send confirmation slips after clients make trades, according to Thursday's opinion.

Morgan Stanley...
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