NEW YORK: Morgan Stanley is trying to halt a securities arbitration case filed by a Facebook investor who blames the firm and other companies for losses she suffered in the social media giant’s botched initial public offering and is seeking US$1.9mil (RM5.7mil) in damages.
Morgan Stanley, a lead underwriter for the IPO, says the investor is not its customer, and lawyers for the bank filed a complaint in federal court in Manhattan on Monday seeking an order to stop the arbitration as it relates to its firm.
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