Frasers Group sues Morgan Stanley for €47m over a $1bn margin call related to Hugo Boss stake.
Mike Ashley's Frasers Group is suing Morgan Stanley for approximately €47m ($51m) over a $1bn margin call, described by Ashley as "inappropriate". The court battle began at London's High Court, with Ashley accusing the investment bank of "snobbery" and "class-driven" actions. Frasers alleges the margin call was capricious, in breach of market practice, and forced the company to sell its stake in German fashion group Hugo Boss.
February 21, 2024
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