High Court Tosses $10M Morgan Stanley Insider Trading Case

Law360, New York (January 8, 2018, 7:20 PM EST) -- The U.S. Supreme Court on Monday rejected an effort by an auto parts investor to revive a $10 million insider trading suit against Morgan Stanley, handing the bank a final victory in its long-running dispute with a company linked to Russian billionaire Oleg Deripaska.

Veleron Holding BV had brought the suit claiming Morgan Stanley shorted the stock of parts manufacturer Magna International Inc. based on insider information. But Veleron found no traction in the courts: a jury rejected its bid for compensation, that decision was backed up by the Second Circuit, and Veleron had its request that the top court take...

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