Morgan Stanley Defeats 'Short-Swing' Insider Trading Suit

Law360, New York (September 28, 2012, 7:41 PM EDT) -- A New York federal judge on Wednesday dismissed a Gramercy Capital Corp. shareholder's suit against Morgan Stanley & Co. Inc. and 10 subsidiaries over “short-swing” transactions that allegedly violated insider trading laws, finding the claims time-barred.

Investor Donna Chechele alleged that in 2007 Morgan Stanley and its affiliates participated in short-swing transactions, or deals in which a company insider makes a profit by buying and selling the stock of a publicly traded company within a six-month period. The defendants are considered insiders under the short-swing profit...
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Case Title

Chechele v. Morgan Stanley et al


Case Number

1:11-cv-04037

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Paul G. Gardephe

Date Filed

June 14, 2011

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