“As acknowledged in the [second amended complaint], the Alorica defendants, not [Morgan Stanley], had the sole authority and discretion to choose the investments at issue …, monitor the investments at issue, remove the investments at issue and to make decisions regarding the selection and compensation of the providers of services to the plan.”
“This is precisely why [Morgan Stanley] was not named in the complaint in the first place and why there are no specific allegations of wrongdoing against” Morgan Stanley in the complaint, the financial services company said.
Representatives for the parties did not immediately respond to requests for comment Tuesday.
Morgan Stanley is represented by Elizabeth H. Lindh, Michelle L. Abdolhosseini, and Amanda L. Botelho of Keesal Young & Logan.
Plaintiffs Melissa Olsen, Aaron Munoz, and Cyndy Paniagua are represented by Christina A. Humphrey and Robert Neil Fisher of Christina Humphrey Law PC, and James Alan Clark and Renee P. Ortega of Tower Legal Group PC.
