PBGC Wants 2nd Circ. To Rethink Morgan Stanley ERISA Case

Law360, New York (May 20, 2013, 3:53 PM EDT) -- The Pension Benefit Guaranty Corp. on Friday asked the Second Circuit for an en banc rehearing of its case alleging Morgan Stanley Investment Management Inc. negligently invested a pension plan's assets in mortgage-backed securities, saying the case's dismissal hinders enforcement of the Employee Retirement Income Security Act.

The PBGC, on behalf of appellant Saint Vincent Catholic Medical Centers Retirement Plan, asked the court to reconsider an April decision affirming the dismissal of a suit accusing Morgan Stanley of disproportionately investing the plan’s assets in mortgage-backed securities....
To view the full article, register now.