Workers Sue Morgan Stanley For Broker's Bad Advice

Law360, New York (January 16, 2008, 12:00 AM EST) -- A group of former Kodak workers is seeking half a billion dollars in damages against Morgan Stanley, alleging in a proposed class action that their broker persuaded them to retire early and invest their money in a fool's paradise.

The suit, filed Wednesday in a New York state court, claims mom-and-dad investors were taken for a ride with false assurances that they could live comfortably if they quit their jobs and entrusted their retirement benefits to a financial plan created by Morgan Stanley broker Michael Kazacos....
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