- Morgan Stanley (MS +1.6%) lawyers do a fine bit of lawyering, discovering a technicality in a shareholder letter requesting a vote at the spring annual meeting on splitting the Chairman and CEO roles at the company.
- The result: The SEC has informed Morgan it's free to ignore the proposal from C. Francois Swanepoel - supposedly an owner of 208 shares in the bank since 2007.
- The proposal, of course, had little-to-no chance of passage.
Proposal to split Chairman/CEO roles at Morgan Stanley quashed
Dec 31 2013, 14:38 ET