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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 23, 2005
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Morgan Stanley
(Exact name of registrant as specified in its charter)
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Delaware 1-11758 36-3145972
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
1585 Broadway, New York, New York 10036
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 761-4000
Not Applicable
(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions:
|_| Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Item 8.01. Other Events.
(1) The following disclosure supplements the disclosure made by Morgan Stanley
(the "Company") in previous filings under the Securities Exchange Act of 1934
concerning certain legal proceedings involving the Company and Parmalat.
On June 23, 2005, the Company and its subsidiaries Morgan Stanley & Co.
International Ltd. and Morgan Stanley Bank International Ltd. entered into a
proposed settlement agreement (the "Agreement") with the administrator of
Parmalat. Pursuant to the Agreement, the Company agreed to pay (euro)155
million to Parmalat as part of a global settlement of all existing and
potential claims between Morgan Stanley and Parmalat, while preserving the
Company's (euro)35 million claim which was admitted in December 2004 in the
administration of Parmalat. The Agreement is subject to the approval of the
Italian Government. The Company believes that it is adequately reserved with
respect to the matters covered by the settlement.
(2) The following disclosure supplements the disclosure regarding Coleman
(Parent) Holdings, Inc. v. Morgan Stanley & Co., Inc. (the "Coleman
litigation") made by the Company in previous filings under the Securities
Exchange Act of 1934.
On June 23, 2005, in the Coleman litigation, the Florida state court awarded
approximately $208 million in pre-judgment interest to Coleman (Parent)
Holdings, Inc. ("CPH") with respect to CPH's claims against Morgan Stanley &
Co. Incorporated ("MS&Co."), a subsidiary of the Company. The court also
determined that MS&Co. was entitled to set-offs in the amount of approximately
$85 million from the compensatory damages previously awarded to CPH. The court
set the final total judgment at $1,577,696,175.83, plus future interest at the
rate of 7% per year. The Company's reserve with respect to the Coleman
litigation is $360 million and this reserve has not changed as a result of the
final judgment. MS&Co. will appeal and move to stay the judgment pending
appeal.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
MORGAN STANLEY
(Registrant)
By: /s/ Ronald T. Carman
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Name: Ronald T. Carman
Title: Assistant Secretary
Date: June 24, 2005