Oct 29 2007
Mo’ (Morgan) Money - Revisited
By Mark V. Reichenbach - October 29, 2007
New York - One month ago yesterday here at On the Mark I blogged about Morgan Stanley and its recent email woes and admissions that came to light in 9/11 arbitrations. In that piece titled Mo’ (Morgan) Money (click for story) we touched upon emails requested in the arbitrations and Morgan’s response and conduct.
“The emails in question were those in existence before 9/11 which Morgan claimed were destroyed in the attacks and thereby unavailable for production. It was found Morgan in fact had restored the previously claimed destroyed emails.
What appears even more troubling is that pre 9/11 emails once restored were then allowed to be lost due to the overwriting of backup tapes that contained the emails in question”.
Well, it’s shaping up that Morgan is in the crosshairs of many plaintiffs who are eyeing lawsuits against the financial giant.
On Thursday’s Law.com piece originally found on The Daily Business Review, Jordana Mishory details the possible future of litigation against Morgan Stanley and those who are bringing it.
Darren Blum of the firm Blum and Silver has set up the Internet website named SueMorganStanley.Com, directing those interested in jumping on the bandwagon to a source of additional information.
Other securities attorneys are also taking action and gathering their names.
This story won’t have an ending for some time. I suspect we’ll be discussing these battles for years.
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