J.P. Morgan Chase & Co. is following Citigroup’s lead, agreeing to settle a lawsuit from Enron investors for $2.2 billion. Morgan was accused of having a role in a big accounting fraud scandal at Enron.
Purcell Leaving Morgan Stanley
After much criticism from shareholders, Morgan Stanley CEO Philip Purcell has announced that he plans to retire in a letter sent to employees of the company.
Morgan Stanley Ordered To Pay $1.4 Billion, Confident About Appeal
Yesterday, Morgan Stanley was ordered by a Florida jury to pay investor Ron Perelman an additional $850 million bringing the total to $1.4 billion in damages.
Morgan Stanley Gets Hammered For $1.4 Billion
Morgan Stanley was ordered today by a Florida court to pay an additional $850 million to billionaire investor Ron Perelman. This brings the total to $1.4 billion in damages.
Morgan Stanley To Pay $604 Million In Lawsuit
Morgan Stanley was ordered to pay investor Ron Perelman $604 million, and said it is now reassessing the amount of funds it has set aside for this expense.
Morgan Stanley Posts Results
Morgan Stanley reported net income of $1,468 million for the quarter ended February 28, 2005, up 20% from the first quarter of 2004 and 22% from the fourth quarter of 2004.