Morgan Stanley, Ratings Cos. Settle Long-Running SIV Suits

Law360, New York (April 26, 2013, 10:24 PM ET) -- Morgan Stanley & Co. Inc., Moody's Investors Service and Standard & Poor's Rating Services settled claims Friday in two long-running class actions alleging they misled investors about structured investment vehicles that contained risky mortgage-backed securities.

Lead plaintiffs Abu Dhabi Commercial Bank and King County, Wash., filed joint stipulations of dismissal with the defendants Friday evening in the two suits, according to New York federal court records. The suits involved the collapse of the multibillion-dollar Cheyne and Rhinebridge SIVs, according to court records.

The McGraw-Hill Cos., which...
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Case Information

Case Title

Abu Dhabi Commercial Bank et al v. Morgan Stanley & Co. Incorporated et al

Case Number

1:08-cv-07508

Court

New York Southern

Nature of Suit

Contract: Other

Judge

Shira A. Scheindlin

Law360 Coverage

Date Filed

August 25, 2008


Case Title

King County, Washington, et al v. IKB Deutsche Industriebank AG et al

Case Number

1:09-cv-08387

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Shira A. Scheindlin

Law360 Coverage

Date Filed

October 2, 2009

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