The Traderszone Network

Published in TZ Latest News 2 November, 2015 by The TZ Newswire Staff

Jury hears opening arguments in Morgan Stanley insider trading trial

A lawyer for Morgan Stanley (MS.N) struck back sharply on Monday against an insider trading lawsuit brought by a Russian billionaire’s company, telling jurors it was “one of the craziest, most made-up cases” ever brought. Attorney Jonathan Polkes’ fiery tone on the first day of trial in Manhattan federal court followed a more subdued opening by Aaron Marks for plaintiff Veleron BV, a Dutch company owned by Oleg Deripaska, owner of industrial group Basic Element. The case arises from Deripaska’s 2007 investment, through Veleron, in Canadian auto parts maker Magna International.