Court Rulings West Virginia

Morgan Stanley Ruling Reversed: West Virginia's Supreme Court overturned a decision that would have forced Morgan Stanley & Co. to pay up to $60 million to the state for losses in speculative trades. In a 5-0 decision, the court said a lower-court judge ruled wrongly that the Wall Street investment bank violated state laws barring speculation.

Morgan Stanley Ruling Reversed: West Virginia's Supreme Court overturned a decision that would have forced Morgan Stanley & Co. to pay up to $60 million to the state for losses in speculative trades. In a 5-0 decision, the court said a lower-court judge ruled wrongly that the Wall Street investment bank violated state laws barring speculation.