DOL Seeks to Toss Suit Over Advisory Opinion on Morgan Stanley

The federal government is asking a judge to dismiss a lawsuit challenging a Labor Department benefits advisory opinion, arguing that it is not a final agency action, and that former Morgan Stanley employees bringing the litigation did not show harm.

Jay Clayton, US Attorney for the Southern District of New York, filed a motion to dismiss Wednesday on behalf of the federal government and top DOL officials named as defendants. The lawsuit stems from a Sept. 9 advisory opinion that found Morgan Stanley’s deferred incentive compensation program is not an employee benefit pension plan under the Employee Retirement Income Security ...