Safeguard Founders Say Morgan Stanley Stymied $350M Claim

Law360, New York (January 14, 2013, 8:40 PM EST) -- The founders of Safeguard Self Storage on Friday sued a Morgan Stanley unit and Lloyd’s of London for allegedly conspiring to prevent them from pursuing a $350 million insurance claim after Hurricane Katrina and then forcing them out of the company.

BCR Safeguard Holding LLC, JAC Safeguard Holding LLC and Safeguard Development Group II LLC, which are controlled by Safeguard founders Bruce Roch Jr. and Jack Chaney, are asserting Racketeer Influenced and Corrupt Organizations Act and Louisiana Racketeering Act claims, among others, against Morgan Stanley Real...
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