Investors' Compensation Suit Too Broad, Morgan Stanley Says

Law360, New York (March 1, 2012, 7:27 PM EST) -- Morgan Stanley told a New York state appeals court Thursday that a shareholder lawsuit went too far by alleging that the $45 billion Morgan Stanley paid its employees over three years was excessive while the company was performing poorly.

"It has never been done on an aggregate basis for an entire company," Daniel Slifkin of Cravath Swaine & Moore LLP, who represents Morgan Stanley's executive officers and Morgan Stanley as a nominal defendant, told a five-judge panel for the Appellate Division of the New York Supreme...
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