Judge Relies on Second Circuit Ruling to Reinstate MBS Claims Against Morgan Stanley
On Friday, a U.S. district court judge reinstated part of a purported class action that accuses a Morgan Stanley subsidiary of making false and misleading statements in its offering materials for mortgage-backed securities. The decision is the latest to follow a Second Circuit ruling last fall that expanded the right of plaintiffs to assert standing in MBS suits against banks.
By Victor LiJanuary 14, 2013
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