Morgan Stanley, seeking to clarify circumstances surrounding the departure last month of former Congressman Harold Ford Jr., said Monday his separation was based on violations of corporate policy.
"The press has reported that Mr. Ford was terminated for sexual misconduct. He was not," according to a statement from the New York-based bank.
(Read more: Morgan Stanley fires Ford)
Morgan Stanley conducted an investigation into a harassment complaint against Ford by a journalist. The bank said Monday in its statement that it hadn't received any internal allegations of sexual harassment or misconduct.
Ford said last month that he would bring legal action against the reporter who made "these false claims about me as well as Morgan Stanley for improper termination." Morgan Stanley said at the time that he was "terminated for conduct inconsistent with our values and in violation of our policies."