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Morgan Stanley May Have Pre-9/11 E-Mails Financial firm Morgan Stanley, one of the companies that incurred massive losses in the September 11 terrorist attacks on the World Trade Center, has found sources of e-mails related to its role in the Wall Street stock-research scandal that it had previously said were destroyed in the attacks. The Associated Press is reporting that lawyers for Morgan Stanley said the company has found some new "sources" of information that could contain e-mails that are recoverable, but AP says it's still unclear as to what the sources of the e-mail are. In a prepared statement, Morgan Stanley spokesperson Andrea Flattery said the company has alerted numerous regulators and litigants about the potential sources of missing evidence. "These sources are neither actively used for information retrieval nor readily searchable and it is unclear whether they will have additional e-mails relevant to any particular matter," the statement said. AP says e-mail retention has become a key component of good governance in recent years. "The proper management of e-mail is probably the most important element at the moment in corporate compliance and corporate governance," Kenneth Withers, senior education attorney at the Washington-based Federal Judicial Center, the research arm of the U.S. courts, told AP. "We have seen many cases in which the tendency to treat e-mail as an ephemeral non-record resulted in significant fines, judgments and sanctions against corporations." Morgan Stanley paid a fine of $1.65 million in 2002 for failing to preserve e-mail messages.
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