Morgan Stanley Hit With Lawsuit Over Sale Of Mortgage-Backed Securities

Morgan Stanley Hit With Lawsuit Over Sale Of Mortgage-Backed Securities

NEW YORK - The National Credit Union Administration (NCUA) filed a securities lawsuit against Morgan Stanley & Co. Inc. and one of its subsidiaries on Sept. 23, alleging that the defendants misrepresented the investment quality of residential mortgage-backed securities (RMBS) it sold to the credit unions in violation of state and federal securities law (National Credit Union Administration v. Morgan Stanley & Co. Inc., No. 13-6705, S.D. N.Y.).

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