SNA - Morgan Stanley Urges New York Judge to Dismiss Singapore Investors' Suit

Morgan Stanley, accused by a group of Singapore investors of fraudulently wiping out their $154.7 million investment, urged a Manhattan judge to dismiss the lawsuit, arguing New York isn’t an appropriate place for trial. The complaint by 18 Singapore investors, who seek a judge’s permission to sue on behalf of all purchasers of Morgan Stanley’s Pinnacle Notes, alleged the bank created a “classic bait and switch scheme secretly designed to benefit Morgan Stanley” at the customers’ expense.

Full article: http://singaporenewsalternative.blogspot.com/2011/02/morg...

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