Morgan Stanley Sued for $100M

Florida Business Briefs

From Herald Staff and Wire Services

SECURITIES

A Miami couple have filed a lawsuit seeking $100 million in damages from Morgan Stanley over the Wall Street firm's failure to produce e-mails that might have been used as evidence in their securities case.

Robert and Alina Quintana are seeking a rehearing of their claim Morgan Stanley caused them to lose $150,000 in the stock market, said their attorney Darren Blum. A Morgan Stanley spokesperson could not be reached for comment.

Until recently, Morgan Stanley said it couldn't recover e-mails related to its retail brokerage located in the World Trade Center was destroyed by a terrorist attack in 2001. The firm in late April announced that it discovered back-up tapes were found at Morgan Stanley facility in Brooklyn.