Morgan Stanley Must Pay Fired Trader $8M, Panel Says

Law360, Los Angeles (September 3, 2013, 10:18 PM EDT) -- An arbitration panel has ordered two Morgan Stanley units to pay $8 million in deferred compensation to an energy trader who formerly worked for the firm, saying the firm unfairly fired the trader for refusing to meet with the New York County district attorney's office regarding a large trade he helped orchestrate.

In a 2-1 ruling made public Monday, a Financial Industry Regulatory Authority panel said Morgan Stanley & Co. Inc. and Morgan Stanley Capital Group Inc. failed to take into account "mitigating circumstances" when they...
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