A financial advisor who formerly worked for Morgan Stanley & Co. and then Wells Fargo Advisors has admitted in federal court in San Francisco to forging an elderly widow’s name to $1.8 million worth of checks, prosecutors announced Tuesday.
Morgan Stanley, the lead investment bank in Facebook’s troubled initial public offering, will compensate investors who overpaid when they bought Facebook’s stock in Friday’s IPO, according to a source familiar with the matter.
Regulators are examining whether Morgan Stanley, the investment bank that shepherded Facebook through its highly publicized stock offering last week, selectively informed clients of an analyst’s negative report about the company before the stock started trading.
From the rubble of the World Trade Center have come incredible stories of rescue and survival. But there is one story that arguably stands out above the rest, one which is now memorialized on stage and in song in San Francisco.