Morgan Stanley Can't Dodge $155M Singapore Suit

Law360, New York (August 22, 2013, 6:48 PM EDT) -- A New York federal judge on Thursday rejected Morgan Stanley's latest attempt to shake a $155 million fraud suit brought by a putative class of Singapore investors, finding that the bank didn't offer any 'cogent' reasons to toss allegations that it knowingly marketed doomed-to-fail mortgage-backed investments.

U.S. District Judge Jesse Furman said the bank's renewed attempt to dismiss the proposed class action fell short, failing to demonstrate why another federal judge's earlier rejection shouldn't stick, according to Thursday's order.

The case has volleyed between district and...
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