Morgan Stanley Defeats Russian Tycoon’s Short-Selling Claims
- Deripaska's company loses trial in New York federal court
- Morgan Stanley told jurors its share sale was by the book
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Morgan Stanley defeated claims by Russian tycoon Oleg Deripaska that it used inside information about his failing $1.5 billion investment in an auto-parts maker to illegally profit from its own short selling.
The verdict Friday by a New York jury supports Morgan Stanley’s claim that it acted legally when it bet against the parts maker.