Morgan Stanley Dodges Suit Over Retirement Plan Losses

Law360, New York (March 28, 2013, 7:26 PM EDT) -- A New York federal judge on Thursday dismissed a consolidated class action that accused Morgan Stanley of violating its fiduciary duty to employees by investing retirement funds in company stock that plummeted during the financial crisis.

U.S. District Judge Deborah A. Batts ruled that Morgan Stanley executives were entitled to a presumption that investments of the retirement plans' assets in company stock is prudent. The decision draws upon the Second Circuit's 2011 decision that under the Employee Retirement Income Security Act, plan administrators weren't required to...
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Case Information

Case Title

In re Morgan Stanley ERISA Litigation


Case Number

1:07-cv-11285

Court

New York Southern

Nature of Suit

Labor: E.R.I.S.A.

Judge

Deborah A. Batts

Date Filed

December 13, 2007

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