Charges filed against Morgan Stanley over bank merger

A Greek prosecutor on Wednesday accused the representatives of international credit firm Morgan Stanley for their alleged role during the period of negotiations between National Bank and Alpha Bank with a view to a merger in January 2011.

The prosecutor filed charges related to abusing privileged information and inaccurately reporting to the stock market against the Morgan Stanley representatives.

Crucially, the prosecutor argues that Morgan Stanley, a National consultant, increased its net position by acquiring shares in Alpha during the period in question, which is attributed to inside information.

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