Ex-Morgan Stanley Risk Officer Settles $1M Suit Over Firing

Law360, New York (December 6, 2012, 7:21 PM EST) -- A New York federal judge on Tuesday approved a settlement in a $1 million wrongful firing suit by a former Morgan Stanley Smith Barney LLC risk officer accusing the retail brokerage and parent Morgan Stanley & Co. Inc. of axing him for reporting allegedly fraudulent securities schemes by other employees.

U.S. District judge Denise Cote signed off on the settlement, whose details were not publicly available. An attorney for Clifford Jagodzinski declined to comment, while representatives for Morgan Stanley could not immediately be reached Thursday.

The settlement, which the parties agreed upon Nov. 30, resolves a suit Jagodzinski filed in August,...

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