Shareholders and Former Senior Executives of Morgan Stanley Release Open Letter to Morgan Stanley Shareholders.
PR Newswire Europe, May, 2005
NEW YORK, May 12 /PRNewswire/ -- Today a group of shareholders and former members of senior management of Morgan Stanley published an open letter to Morgan Stanley shareholders.
"May 12, 2005
To the Shareholders of Morgan Stanley:
We are today releasing detailed materials outlining a proposal to spin off the Institutional Securities Business (available on http://www.futureofms.com). As has been reported, this proposal was reviewed in preliminary form with three non-executive directors of the Morgan Stanley Board on April 22, 2005. Since that meeting we have received no direct response from the Board. We have subsequently discussed a spin-off with institutional shareholders and expanded the initial proposal to reflect their input.
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