Judge Colleen McMahon denied Morgan Stanley's motion for summary judgment on the grounds that "there is plenty of evidence—most of it out of the mouths of Morgan Stanley's own personnel—from which a jury could conclude" that Morgan Stanley traded on insider information for the benefit of its own account.
July 27, 2015 at 09:00 AM
1 minute read
A Russian magnate’s 2012 suit against Morgan Stanley for securities fraud was declared to be “very much alive” by Southern District Judge Colleen McMahon on Thursday.
McMahon denied investment banking giant Morgan Stanley’s motion for summary judgment on the grounds that “there is plenty of evidence—most of it out of the mouths of Morgan Stanley’s own personnel—from which a jury could conclude” that Morgan Stanley traded on insider information for the benefit of its own account.
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