Morgan Stanley Urges 2nd Circ. To Ax Pair Of ERISA Suits

Law360, New York (November 25, 2013, 6:15 PM EST) -- Morgan Stanley & Co. Inc. told the Second Circuit on Friday to dismiss an appeal in two class actions accusing the firm of violating its fiduciary duty to employees by investing retirement funds in risky company stock, saying the class members had failed to adequately allege their claims.

The complaints allege that Morgan Stanley violated its duty of prudence under the Employee Retirement Income Security Act by funding contributions to its employee retirement plans solely with company stock at a time when the stock was “unduly...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Coulter v. Morgan Stanley & Co. Incorpora


Case Number

13-2504

Court

Appellate - 2nd Circuit

Nature of Suit

3791 LABOR LAWS-Retirement Act 1974

Date Filed

June 27, 2013

Law Firms

Companies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.