Morgan Stanley Beats Counterclaim In $41M Gas Account Row

Law360, New York (July 23, 2013, 2:03 PM EDT) -- A New York federal judge on Monday refused to revive a hedge fund’s breach of contract counterclaim against Morgan Stanley in a $40.6 million dispute over a natural gas futures trading account, saying he had not overlooked evidence cited by the fund when previously dismissing the claim.

According to U.S. District Judge Andrew L. Carter Jr., he had not ignored a phone call between Peak Ridge Master SPC Ltd. and Morgan Stanley purportedly giving the fund more time to hit a margin requirement when dismissing the...
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