Italian appeals court rules it cannot hear $3 billion case against Morgan Stanley
11 Mar 2019

An Italian appeals court has ruled it cannot hear a case against Morgan Stanley in a derivatives case which included a request for 2.7 billion euros ($3 billion) in damages from the U.S. bank.

The ruling, seen by Reuters in a document filed on Thursday, confirms a decision taken in June by Italy’s Court of Accounts saying it did not have jurisdiction in the matter.

The case revolves around Morgan Stanley derivative transactions made by the Italian state between 1995 and 2005 and terminated in December 2011 and January 2012.

– Reporting by Domenico Lusi, Reuters, 7 March 2019.

Link to Reuters

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