State reaches $2.3m price-gouging settlement with Morgan Stanley
Monday, July 13th, 2009 by Michael C. BenderFlorida will receive $2.275 million from a Morgan Stanley subsidiary after reaching a price-gouging settlement with the gas supplier, Attorney General Bill McCollum and Agriculture Commissioner Charles Bronson said today.
The state opened its investigation after thousands of complaints about gas prices during Hurricane Ike in 2008. The state says that TransMontaigne ordered its retailers to increase gas an additional $1.60 per gallon during the storm.
The settlement marks the first time the state has gone after a supplier. It’s also the largest price gouging settlement in Florida history, McCollum said.
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