Morgan Stanley will pay $249 million in trading fraud lawsuit

Morgan Stanley will pay $249 million to settle civil and criminal charges related to stock trading.
The financial institution disclosed key information that was supposed to remain confidential, US authorities announced.
The case involves large stock trades in which Morgan Stanley trading staff leaked information to hedge funds between 2018 and 2021, resulting in about $72.5 million in ill-gotten gains, according to a Justice Department press release of the USA.
Morgan Stanley, meanwhile, reached a civil settlement with the Securities and Exchange Commission.
The bank's shares were down 0.8 percent in afternoon trade. /BGNES