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Mike Ashley's Frasers Settles with Morgan Stanley Over $1 Billion Margin Call

May 3, 2024, 12:20 PM

British retail tycoon Mike Ashley's Frasers Group has settled a lawsuit with Morgan Stanley over a nearly $1 billion margin call. The lawsuit, which was filed in London, accused Morgan Stanley of making a $995 million margin call driven by 'snobbery' against Ashley. Both parties have reached a settlement, though the terms were not disclosed.