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Morgan Stanley Seeks to Send Brokers' Deferred Comp Lawsuit to Arbitration
AdvisorHub
July 18, 2022 "Morgan Stanley has asked a federal court to stay a proposed class action lawsuit related to its deferred compensation plan and compel 12 of its former brokers who filed the suit to arbitrate their claims.... Matthew T. Shafer ... sought class action status for claims based on allegations that Morgan Stanley violates federal laws governing vesting and anti-forfeiture rules for pension and retirement packages by withholding deferred pay when brokers move to the competition. In response, Morgan Stanley has argued that the deferred compensation program is a bonus plan, which is generally not covered by ERISA." MORE >> |
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