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Civil Litigation

Apr. 26, 2019

State reaches $150M settlement with Morgan Stanley

California Attorney General Xavier Becerra announced a $150M settlement against investment bank Morgan Stanley for misleading investors in addition to the state’s teachers and other public employees.

The state attorney general announced a $150 million settlement Thursday that was reached between investment bank Morgan Stanley and investors, which included teachers and other public employees.

Morgan Stanley was accused of misleading investors and concealing the high risk of mortgage-backed securities sold to the California Public Employees' Retirement System and the California State Teachers Retirement System from 2003 to 2007. ...

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