Morgan Stanley Says Zurich Owes $2M For SEC Probe Costs

Law360, New York (July 2, 2013, 7:38 PM EDT) -- Morgan Stanley Investment Management Inc. launched a suit in New York state court Monday alleging Zurich American Insurance Co. improperly denied $1.7 million in coverage to the company for a U.S. Securities and Exchange Commission investigation.

The complaint says Morgan Stanley was investigated by the SEC at an unnamed date for an unnamed fund. The company says it notified Zurich in March 2011, which was “as soon as practicable” after its risk and insurance management department became aware of the the SEC claim and before it...
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