Wednesday, 31 August 2016
Last updated 18 hours ago
Mar 21 2014 | 10:30am ET
The dispute between Morgan Stanley and Peak Ridge Capital Group has come to a negotiated conclusion.
Morgan Stanley said it has settled the litigation between it and the commodities hedge fund, which it had sued in 2010, accusing Peak Ridge of saddling it with more than $40.6 million in losses on bad natural-gas bets after the hedge fund missed a margin call. Peak Ridge shot back with a countersuit, accusing Morgan Stanley of mishandling its trades and wrongfully seizing them after “arbitrarily and capriciously” imposing new margin requirements.
Last year, a federal judge dismissed most of Peak Ridge’s complaint against Morgan Stanley.
Terms of the settlement were not disclosed.