Morgan Stanley Again Targets Suit Over $104M In Bad MBS

Law360, New York (April 24, 2014, 7:37 PM EDT) -- Morgan Stanley on Thursday sought to undo a lower court’s ruling that found Allstate Insurance Co.’s suit over $104 million in allegedly overrated mortgage-backed securities to be timely, telling a New York appeals court the claims are barred by Illinois’ statute of limitations.

During oral arguments before a five-judge panel of the New York Supreme Court Appellate Division, First Department, Morgan Stanley’s attorney James P. Rouhandeh of Davis Polk & Wardwell LLP said the trial judge had erred in holding that Allstate must have had actual...
To view the full article, register now.