Charles Schwab Corp. won more than $7.3 million from Morgan Stanley and two financial advisers it accused of stealing trade secrets when they moved to the latter firm in 2019.
The arbitration award in favor of Schwab was disclosed Friday in a New Jersey federal court filing by Morgan Stanley, which is seeking to confirm the amount and move on from the dispute. But the bank said the two advisers, Christopher Armstrong and Randall Kiefner, who it fired for violating its transition policy, are still refusing to pay their share.
Source : Schwab awarded $7 million in lawsuit against Morgan Stanley, former advisers