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Home:   Society:   Issues:   Business:   Allegedly Unethical Firms:   Morgan Stanley

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Morgan Stanley Settles Conflicts of Interest Charges  - http://www.sec.gov/litigation/litreleases/lr18117.htm  Securities and Exchange Commission sued the firm claiming its research analysts were subject to inappropriate influence by its investment banking division.  NASD Fines Morgan Stanley for Prohibited Sales Contests  - http://www.nasdr.com/news/pr2003/release_03_039.html  Firm conducted contests for its brokers and managers to promote the sale of its mutual funds and a selected few variable annuities.  SEC Charges Morgan Stanley With Inadequate Disclosure in Fund Sales  - http://www.sec.gov/news/press/2003-159.htm  Firm pushed "preferred" funds and failed to inform customers about higher fees associated with certain class of shares.  LVMH sues Morgan Stanley  - http://news.bbc.co.uk/1/hi/business/2513555.stm  The world's leading luxury goods retailer sues the investment bank over alleged unfair research to favor its rival Gucci. [BBC]  Morgan Stanley, LVMH Tango In Paris  - http://www.forbes.com/2003/05/27/cx_da_0527topnews.html  Lawsuit alleges that Claire Kent of Morgan Stanley defamed LVMH in order to cultivate its rival Gucci, a client of the investment bank. [Forbes]  EEOC Files Sex Discrimination Lawsuit Against Morgan Stanley  - http://www.eeoc.gov/press/9-10-01.html  The suit alleges that the company discriminated against as many as 100 women, and it retaliated against at least one of them for voicing her opposition to its practices.  Complaint: SEC v. Morgan Stanley Regarding Stock Research Conflicts of Interest  - http://www.sec.gov/litigation/complaints/comp18117.htm  Complaint filed with the U.S. District Court alleging conflicts of interest for Morgan Stanley's research analysts with respect to investment banking activities and considerations.  EEOC and Morgan Stanley Announce Settlement of Sex Discrimination Lawsuit  - http://www.eeoc.gov/press/7-12-04.html  "As part of the settlement, at least $2 million will be provided for diversity programs designed to enhance the compensation and promotional opportunities for female employees within Morgan Stanley."  Morgan Stanley and Sexual Discrimination  - http://www.kamalsinha.com/morganstanley/  Examines widespread gender bias at the Wall Street firm. Conflicts of interest in stock research, and improper mutual funds sales are covered too.  Conflict Probes Resolved at Citigroup and Morgan-Stanley  - http://www.oag.state.ny.us/press/2003/apr/apr28a_03.html  New York Attorney General Eliot Spitzer's settlement with the firm and links to PDF files containing the full account and exhibits.