Morgan Stanley agreed Friday to pay $249 million to settle legal and regulatory investigations into allegations that some workers improperly shared details about shoppers’ inventory gross sales, the Manhattan U.S. lawyer’s workplace mentioned.
The decision ends a long-running probe into how the financial institution offered massive blocks of inventory for institutional buyers. Morgan Stanley obtained a nonprosecution settlement, a type of leniency meaning it gained’t face legal expenses so long as it cooperates with ongoing requests from prosecutors for 3 years and doesn’t violate its settlement settlement.
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