Skowron Fights $10.2M Morgan Stanley Payment At 2nd Circ.

Law360, New York (January 14, 2013, 10:29 PM EST) -- Insider trader Joseph “Chip” Skowron III on Monday asked the Second Circuit to reverse a judge's order that he pay $10.2 million to former employer Morgan Stanley over stock trades based on clinical trial data, arguing he deserves a fuller hearing in court.

A sentencing judge ordered Skowron to pay Morgan Stanley, which had conducted its own investigation into his insider trading, $6.4 million of his salary and $3.8 million in legal fees. That summary decision denied Skowron a proper court hearing, his attorney argued at...
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