Morgan Stanley Wants Ex-Adviser’s Deferred Income Row Arbitrated

A proposed class action accusing Morgan Stanley of wrongly forcing thousands of former financial advisers to forfeit money earned in their deferred compensation programs should be kicked out of court in favor of individual arbitration, the company told a federal judge in Manhattan.

Matthew Shafer’s lawsuit, which claims he lost out on more than $500,000 because of the illegal vesting schedules in the company’s deferred compensation programs, is blocked by the bonus agreement Shafer signed in 2015, Morgan Stanley said in a motion filed Wednesday. The agreement contains a pledge to arbitrate any claim related to Shafer’s employment or compensation, ...