A PYMNTS Company

DOJ requests approval of Morgan Stanley settlement, despite no acknowledgment of liability

By  |  March 6, 2012

DOJ attorneys have requested that U.S. District Judge William Pauley accept the Morgan Stanley settlement. Under the terms of the deal, Morgan Stanley will pay $4.8 million but explicitly disclaims admissions or findings of liability. The settlement resolves charges that Morgan Stanley entered into a derivative contract with KeySpan in 2006 that led to higher electricity prices in New York City.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The Public Service Commission of the State of New York and the AARP oppose the settlement because Morgan Stanley does not have to admit any wrongdoing.

    Full content: Bloomberg

     

    Related content: Comment on Antitrust Sanctions (Joseph Harrington, Johns Hopkins)