(Bloomberg) — A former employee says Morgan Stanley knows exactly who should buy its worst performing funds: the bank's own workers.

That's the claim behind a lawsuit filed Friday accusing Morgan Stanley and its board of mismanaging the firm's 401(k) retirement plan and costing 60,000 employees hundreds of millions of dollars. According to the complaint, which seeks to cover other workers, the company picked inappropriate and high-priced investments so that the bank would profit at the expense of its staffers.

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