The investment bank confirmed that it is co-operating fully with the investigation.
The investigation centres around allegations that analysts from various Wall Street firms may well have issued biased stock research in order that their employers would benefit by being given lucrative investment banking advisory fees from clients being covered.
It is thought that the Attorney-General is investigating Morgan Stanley's Mary Meeker, a top-rated internet stock analyst once dubbed the 'Queen of the Net'. At the peak of the dot.com market she was thought to be earning around $15m a year.
A group of Amazon and eBay shareholders tried to sue Meeker last year over her research, but the case was dismissed.
Morgan Stanley Subpoenaed
Morgan Stanley Dean Witter confirmed Tuesday that it had received a subpoena from the New York State Attorney General's office in connection with its investigation into research analysts.
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