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U.S. Urges Morgan Stanley Deal Approval Without Admission

The U.S. Justice Department urged a judge to accept a $4.8 million antitrust lawsuit settlement with Morgan Stanley even without an admission that the New York bank violated federal law.

Morgan Stanley agreed in September to pay $4.8 million to settle a U.S. antitrust case over a 2006 derivative contract with Brooklyn, New York-based KeySpan, a deal which the Justice Department said probably led to higher electricity prices in New York City.