Morgan Stanley Agrees to Pay out $249 Million to Settle Block-Shopping for and promoting Probes

Morgan Stanley agreed Friday to pay $249 million to settle legal and regulatory investigations into allegations that some employees members improperly shared data about purchasers’ inventory revenue, the Manhattan U.S. legal professional’s workplace surroundings mentioned.

The decision ends a extensive-jogging probe into how the lender bought vital blocks of inventory for institutional consumers. Morgan Stanley attained a nonprosecution association, a type of leniency which means it won’t confront legal prices as prolonged because it cooperates with ongoing requests from prosecutors for just a few years and doesn’t violate its settlement association.