Former Morgan Stanley executive loses lawsuit in Paris, fined 8 million euros.

The former Paris trading head of Morgan Stanley was dismissed for allegedly having ties with a receptionist deemed "unprofessional" by the bank, and his 8 million euro labor lawsuit ended in defeat. A court clerk revealed over the phone that the Paris labor arbitration tribunal deemed the dismissal decision of Eugene Burgat reasonable, but awarded him 5,000 euros in compensation due to the "rough and humiliating" dismissal process. Burgat plans to appeal through his lawyer, Eric Manka. Morgan Stanley declined to comment. The April trial this year was a rare case of a sensitive dispute between Wall Street banks and executives being brought to court. The core dispute of the arbitration tribunal was to determine whether Burgat had violated the bank's internal regulations, which was also the legal basis for his dismissal.