Morgan Stanley Seeks To Block Facebook IPO Arbitration

Law360, New York (November 6, 2012, 10:51 PM EST) -- Morgan Stanley & Co. LLC on Monday sought to block a Facebook Inc. investor's arbitration suit filed before the Financial Industry Regulatory Authority seeking $1.9 million from the investment bank over its underwriting services in the social networking giant's ill-fated initial public offering.

In a complaint filed in New York federal court, Morgan Stanley said that Facebook investor Uma Swaminathan, a New Jersey resident, could not make the investment bank arbitrate her claims over its role in her losses from Facebook’s May 18 IPO on the...
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