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PBGC Seeks $25M in St. Vincent’s Pension Case

Margaret Dick Tocknell, for HealthLeaders Media, June 13, 2011

PBGC contends that the "firm was aware those investments were risky and contrary to Saint Vincent's instructions."

PBGC wants the Second Circuit to reverse the ruling and require the district court to hear the case on its merits. If that happens, the agency will seek $25 million in damages from Morgan Stanley on behalf of Saint Vincent's pension plan and its participants.

PBGC filed its brief on May 26.

Margaret Dick Tocknell is a reporter/editor with HealthLeaders Media.

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