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Morgan Stanley sues money manager Sterling Stamos
 
  Hedgeweb - FRI, MAR 16 2012
Funds & Investment Morgan Stanley sued Sterling Stamos funds over $17.6m in distributions, which it claims were withheld from a hedging affiliate that owned units in a liquidating trust set up by the money management firm.

Sterling Stamos was established by Peter Stamos, chairman of Major League Baseball??s investment advisory board, with the New York Mets owners as partners, and has $9.5bn of assets under management, according to court documents.

The firm??s funds told Morgan Stanley they were holding distributions in escrow because they feared they would face competing claims on the money from two of the investment bank??s units even after being told there was no risk of that, Morgan Stanley said in a filing in New York state court yesterday.

The case is Morgan Stanley & Co. v. Sterling Stamos Security Fund LP, 650796/2012, Supreme Court of the State of New York, County of New York.

 
 
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