Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Morgan Stanley    MS

MORGAN STANLEY

(MS)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Morgan Stanley : Broker, Law Clerk Charged With Insider Trading -- Update

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/19/2014 | 02:30pm EDT
By Michael Calia 

A Wall Street stockbroker and a managing clerk at a law firm face federal charges the two engaged in an insider-trading scheme that netted $5.6 million in illegal profits.

Both the Securities and Exchange Commission and federal prosecutors in New Jersey charged Morgan Stanley's Vladimir Eydelman and Simpson Thacher Bartlett's Steven Metro with participating in a scheme that ran from February 2009 through February 2013 and involved trades on more than a dozen mergers and other corporate transactions.

The two men were arrested Wednesday. Mr. Eydelman is charged with eight counts of securities fraud, while Mr. Metro is charged with nine counts. Both are charged with four counts of tender-offer fraud.

Morgan Stanley said Mr. Eydelman, who joined the firm from Oppenheimer & Co. in September 2012, had been placed on leave pending further review.

"We were just informed of the arrest this morning and will cooperate fully with the authorities as they pursue this matter," Morgan Stanley spokesman James Wiggins said. "Obviously we don't tolerate insider trading and will take appropriate action based on the facts."

Meanwhile, a representative for Simpson Thacher Bartlett called the charges against a former clerical employee at the firm "deeply disturbing and unprecedented in our long history."

"We had no knowledge of either Mr. Metro's actions or the charges until this morning," said the Simpson Thacher Bartlett representative. "We terminated his employment today and will continue to cooperate fully with the authorities."

According to authorities, Mr. Metro, who had access to corporate clients' confidential information at the firm, would tip off a middleman. The middleman would then meet Mr. Eydelman, usually at a spot near the large clock in Grand Central Terminal in New York City, and convey the tip through a piece of small paper or a napkin. Mr. Eydelman would memorize the ticker symbols on the notes and trade on the tips. The middleman, in turn, would chew the napkin or paper until it was destroyed.

"Law firms are sanctuaries for the confidential treatment of client information, and this scheme victimized not only a law firm but also its corporate clients and ultimately the investors in those companies," Daniel M. Hawke of the SEC's enforcement division said.

A representative for Oppenheimer wasn't immediately available for comment, nor was Mr. Eydelman's attorney. Mr. Metro's defense counsel is to be announced, according to the New Jersey U.S. attorney.

Mr. Metro, 40 years old, lives in Katonah, N.Y., and Mr. Eydelman, 42, lives in Colts Neck, N.J., the New Jersey U.S. attorney said.

Write to Michael Calia at michael.calia@wsj.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on MORGAN STANLEY
09/18Fed Injects More Money Into Markets After Banks Bid Heavily for Funds -- 5th ..
DJ
09/18Fed Injects More Money Into Markets After Banks Bid Heavily for Funds -- 4th ..
DJ
09/18FedEx Shares Fall After Lower Outlook From Trade Tensions
DJ
09/18Fed Injects More Money Into Markets After Banks Bid Heavily for Funds -- 2nd ..
DJ
09/18Bud Brewer Tries Asian IPO Again -- WSJ
DJ
09/17Deutsche Bank Wealth Management Adopts MSCI Ratings in ESG Expansion
DJ
09/17MORGAN STANLEY : Endeavor looks to raise $712m in public listing
AQ
09/16MORGAN STANLEY : Declares Quarterly Dividends on Its Preferred Stock
BU
09/15MORGAN STANLEY : rates TPM as Equal-weight
AQ
09/15Disruption Ahead For Mobile Operators?
AQ
More news
Financials (USD)
Sales 2019 39 856 M
EBIT 2019 10 543 M
Net income 2019 7 985 M
Debt 2019 150 B
Yield 2019 2,96%
P/E ratio 2019 9,05x
P/E ratio 2020 8,49x
EV / Sales2019 5,60x
EV / Sales2020 5,46x
Capitalization 72 755 M
Chart MORGAN STANLEY
Duration : Period :
Morgan Stanley Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MORGAN STANLEY
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 52,23  $
Last Close Price 44,02  $
Spread / Highest target 56,7%
Spread / Average Target 18,7%
Spread / Lowest Target -13,7%
EPS Revisions
Managers
NameTitle
James Patrick Gorman Chairman & Chief Executive Officer
Thomas Colm Kelleher President
Jonathan M. Pruzan Chief Financial Officer & Executive Vice President
Bjarne Stroustrup Managing Director-Technology
Katy L. Huberty Managing Director-Research
Sector and Competitors
1st jan.Capitalization (M$)
MORGAN STANLEY11.02%72 755
GOLDMAN SACHS GROUP INC28.84%78 054
THE CHARLES SCHWAB CORPORATION3.35%56 510
CITIC SECURITIES COMPANY46.97%37 077
HUATAI SECURITIES22.22%23 122
CHINA SECURITIES CO LTD177.27%22 742