Tag: Morgan Stanley

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Article: DTCC Chief Spokesperson Denies Existence of Lawsuit

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DTCC Chief Spokesperson Denies Existence of Lawsuit

Financial Wire cited by RGM Communications via Wayback, 11 May 2004

FinancialWire received a confidential email between a reporter and Stuart Z. Goldstein, Managing Director of Corporate Communications for the Depository Trust and Clearing Corp. in which Goldstein was represented as denying that a lawsuit filed by Nanopierce Technologies (OTCBB: NPCT) exists.

The chief spokesperson for the DTCC, whose board of directors represent a who’s who of financial entities, including Lehman Brothers (NYSE: LEH), Citigroup / Solomon Smith Barney’s Corporate Investment Bank (NYSE: C), and Morgan Stanley (NYSE: MWD), was quoted as stating that the “lawsuit” did not exist and was simply “charges being leveled by internet crackpots.”

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Article: SEC’s IPO probe expands to include Morgan Stanley

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SEC’s IPO probe expands to include Morgan Stanley

Investment Executive, 26 February 2003

“The Securities and Exchange Commission, expanding a probe into alleged IPO abuses, has signaled to Morgan Stanley that it may file civil charges alleging the securities firm doled out shares to investors based partly on their commitments to buy additional stock after trading began, people familiar with the matter say,” writes Randall Smith in today’s Wall Street Journal.

“The SEC staff has informally indicated to Morgan Stanley that it plans to send a so-called Wells notice notifying the firm of the planned charges, the people said. The development suggests the SEC’s investigation into such “laddering” of stock sold in initial public offerings could be heating up. The probe is one of the last major regulatory crackdowns on Wall Street excesses that characterized the 1990s stock-market bubble.”

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Article: NASD Fines Morgan Stanley $1 Million For Allegedly Manipulating Stock Prices

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NASD Fines Morgan Stanley $1 Million For Allegedly Manipulating Stock Prices

Deborah Lohse

Wall Street Journal,

The National Association of Securities Dealers fined Morgan Stanley & Co. $1 million and suspended and fined seven traders for allegedly manipulating in 1995 the price of 10 stocks that are part of the Nasdaq 100 Index.

The decision was issued Monday, following five days of hearings last June and July before the NASD’s market-regulation committee. That committee, made up of members of the securities industry, was convened after Morgan Stanley contested an NASD Regulation complaint on the matter issued Oct. 25, 1996.

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Article: 30 Firms to Pay $900 Million In Investor Suit

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30 Firms to Pay $900 Million In Investor Suit

David Barboza

New York Times, 25 December 1997

Thirty brokerage firms, including some of the biggest and most trusted names on Wall Street, agreed yesterday to pay about $900 million to end a civil suit contending they schemed with one another for years to fix prices on the Nasdaq stock market.

Lawyers for the plaintiffs in the class-action lawsuit, which represented tens of thousands of investors, called it the biggest settlement ever of a price-fixing lawsuit.

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