gunDriller
17th October 2014, 06:20 AM
Just do a web-search with these details
Morgan Stanley
$4.4 Million
2007
https://www.google.com/search?q=morgan+stanley+2007+%244.4+million&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a&channel=fflb
because, in 2007, Morgan Stanley settled a class action lawsuit.
Morgan Stanley was sued by its customers.
It contracted with its customers to buy and store Precious Metals.
It took their money. It did not buy the Precious Metals. But it still charged the storage fees.
MS settled in cash for the PM's. The customers had to sue to get their storage fees back.
http://www.law360.com/articles/26686/morgan-stanley-pays-4-4m-to-settle-class-action
"Morgan Stanley Dean Witter & Co. has agreed to pay $4.4 million to settle a class action over allegedly fraudulent metals transactions, according to papers filed in Manhattan federal court Monday.
Under the settlement, which still needs court approval, Morgan Stanley will pay $1.5 million in cash and $2.855 million in economic and remedial benefits to investors who entered into agreements with the bank to purchase precious metals between Feb. 19, 1986 and Aug. 26, 2005."
http://uk.reuters.com/article/2007/06/12/morganstanley-suit-idUKN1228014520070612
"The suit, filed in August 2005, alleged that Morgan Stanley told clients it was selling them precious metals that they would own in full and that the company would store.
But Morgan Stanley either made no investment specifically on behalf of those clients, or it made entirely different investments of lesser value and security, according to the complaint.
"While we deny the allegations, we settled the case to avoid the cost and distraction of continued litigation," Morgan Stanley said in a statement.
According to the filing, Morgan Stanley argued there were no violations of law and no default or failure to perform or deliver precious metals.
The suit was filed by Selwyn Silberblatt, on behalf of himself and others who bought precious metals -- gold, silver, platinum and palladium in bullion bar or coins -- from Morgan Stanley DW Inc. and its predecessors and paid fees for their storage, according to the filing. The suit covered investors who did so between Feb. 19, 1986, and Jan. 10, 2007."
I thought one of the rules of being a criminal was, DON'T GET CAUGHT.
MS got caught and they're still awarded market-maker status.
No stranger, perhaps, than Obama winning the Nobel Peace Prize ?
Morgan Stanley
$4.4 Million
2007
https://www.google.com/search?q=morgan+stanley+2007+%244.4+million&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a&channel=fflb
because, in 2007, Morgan Stanley settled a class action lawsuit.
Morgan Stanley was sued by its customers.
It contracted with its customers to buy and store Precious Metals.
It took their money. It did not buy the Precious Metals. But it still charged the storage fees.
MS settled in cash for the PM's. The customers had to sue to get their storage fees back.
http://www.law360.com/articles/26686/morgan-stanley-pays-4-4m-to-settle-class-action
"Morgan Stanley Dean Witter & Co. has agreed to pay $4.4 million to settle a class action over allegedly fraudulent metals transactions, according to papers filed in Manhattan federal court Monday.
Under the settlement, which still needs court approval, Morgan Stanley will pay $1.5 million in cash and $2.855 million in economic and remedial benefits to investors who entered into agreements with the bank to purchase precious metals between Feb. 19, 1986 and Aug. 26, 2005."
http://uk.reuters.com/article/2007/06/12/morganstanley-suit-idUKN1228014520070612
"The suit, filed in August 2005, alleged that Morgan Stanley told clients it was selling them precious metals that they would own in full and that the company would store.
But Morgan Stanley either made no investment specifically on behalf of those clients, or it made entirely different investments of lesser value and security, according to the complaint.
"While we deny the allegations, we settled the case to avoid the cost and distraction of continued litigation," Morgan Stanley said in a statement.
According to the filing, Morgan Stanley argued there were no violations of law and no default or failure to perform or deliver precious metals.
The suit was filed by Selwyn Silberblatt, on behalf of himself and others who bought precious metals -- gold, silver, platinum and palladium in bullion bar or coins -- from Morgan Stanley DW Inc. and its predecessors and paid fees for their storage, according to the filing. The suit covered investors who did so between Feb. 19, 1986, and Jan. 10, 2007."
I thought one of the rules of being a criminal was, DON'T GET CAUGHT.
MS got caught and they're still awarded market-maker status.
No stranger, perhaps, than Obama winning the Nobel Peace Prize ?