Morgan Stanley will have to face Russian insider trading suit
Morgan Stanley will reportedly have to face allegations of insider trading brought by a Russian oligarch-owned investment vehicle, with a judge saying that there is ample evidence to suggest that the bank may have traded on material non-public information. Veleron Holding BV, whose parent, OJSC Russian Machines, is owned by Russian oligarch Oleg Deripaska, sued Morgan Stanley over stock trades for a Canadian company, Magna International. Veleron is accusing Morgan Stanley of wrongfully shorting Magna stock.
By Cara Salvatore (July 23, 2015, 9:51 PM EDT) -- A New York federal judge is keeping alive private insider-trading claims in a suit against Morgan Stanley by a Russian oligarch-owned investment vehicle, saying there was ample evidence to suggest that the bank may have traded on material non-public information....

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