[Download] "Robert N. Clemens Trust v. Morgan Stanley Dw" by Tenth Circuit U.S. Court of Appeals " Book PDF Kindle ePub Free

eBook details

Title: Robert N. Clemens Trust v. Morgan Stanley Dw
Author : Tenth Circuit U.S. Court of Appeals
Release Date : January 02, 2007
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 76 KB

Description

The Robert N. Clemens Trust, Automobile Consumer Service Corporation, John D. Brandon, Jr., Pat F. Wakefield, and Marty D. Jackson (collectively the "Plaintiffs") brought this class-action suit against Morgan Stanley DW, Inc. ("Morgan Stanley"). Plaintiffs allege that Morgan Stanleys brokers recommended to Plaintiffs the purchase of unsuitable securities in violation of Section 10(b) of the Securities and Exchange Act of 1934, codified at 15 U.S.C. Â§ 78j, and Rule 10b-5, codified at 17 C.F.R. Â§ 240.10b-5. The Plaintiffs also brought state-law claims against Morgan Stanley under Tenn. Code Ann. Â§ 48-2-121(a), which parallels the language in Rule 10b-5, and Ala. Code Â§ 8-6-19. The district court granted Morgan Stanleys motion, under Rule 12(b)(6), to dismiss Plaintiffs complaint. For the following reasons, we AFFIRM the district courts dismissal of Plaintiffs suit.