Collins v. Morgan Stanley Dean Witter

ORDER GRANTING DEFENDANTS’ MOTION TO DISMISS

KENT, District Judge.

This case arises out of a contract between Morgan Stanley and Allwaste, Inc. (“Allwaste”), pursuant to which Morgan Stanley provided advice to Allwaste concerning a merger with Philip Services Corp. (“Philip”). The case has been brought by holders of stock options (the “Option Holders”) in Allwaste, who claim that Morgan Stanley and Pereira gave bad advice, causing Plaintiffs’ options to lose value when the price of Philip’s stock dropped after the merger. Plaintiffs allege causes of action grounded in contract, negligence,…