Paul, Weiss is widely recognized as having one of the nation’s preeminent securities litigation and regulatory practices. For two decades, our lawyers have guided global corporations and financial institutions through a series of “bet-the-company” securities-related crises, consistently reducing or eliminating their most damaging claims and negotiating favorable resolutions.
Paul, Weiss Wins Dismissal with Prejudice of Two Class Actions Against Morgan Stanley in the S.D.N.Y.
- Client News
- February 9, 2009
Practices
Judge Barbara Jones has dismissed, in their entirety, two securities class actions against our clients Morgan Stanley and various Morgan Stanley-related subsidiaries and mutual funds. The complaints alleged that the investment managers of mutual funds that concentrated in the technology and information sectors of the economy had been improperly influenced in their investment decisions by Morgan Stanley's banking relationships with certain public companies and by the reports prepared by sell-side research analysts employed by Morgan Stanley. Judge Jones accepted the arguments advanced by Paul, Weiss in our motion to dismiss and held that there was no duty to disclose the allegedly omitted information in mutual fund prospectuses or otherwise.
The Paul, Weiss team included litigation partners Richard Rosen and Walter Rieman.