Morgan Stanley won the latest battle in its ongoing legal struggle with dozens of financial advisors who accuse the company of wrongly withholding millions in deferred compensation.
The advisors, all former Morgan Stanley employees, accuse the company of violating a federal retirement law known as Erisa (an acronym for the Employee Retirement Income Security Act of 1974). Morgan Stanley requires advisors to forfeit their deferred compensation if they quit to take employment elsewhere. Like other brokerage firms, Morgan Stanley…
Source: barrons.com
