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Coulter v. Morgan Stanley & Co. Incorpora
Case Number:
13-2504
Court:
Nature of Suit:
3791 LABOR LAWS-Retirement Act 1974
Companies
Sectors & Industries:
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May 30, 2014
2nd Circ. Axes Pair of ERISA Suits Against Morgan Stanley
The Second Circuit on Thursday found that Morgan Stanley & Co. Inc. was not acting in a fiduciary capacity when it chose to fund employee retirement plans with company stock that plummeted during the financial crisis, affirming a lower court's dismissal of a consolidated class action against the bank.
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November 25, 2013
Morgan Stanley Urges 2nd Circ. To Ax Pair Of ERISA Suits
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.