Judge Severely Narrows Morgan Stanley MBS Case

Law360, New York (August 18, 2010, 6:58 PM EDT) -- A federal judge has drastically narrowed a mortgage-backed securities fraud case filed against Morgan Stanley, dismissing the lead plaintiff's claims but giving a different plaintiff a chance to clarify its own allegations over the marketing and sale of mortgage-backed security pass-through certificates.

In a ruling issued Tuesday, Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York ruled that the West Virginia Investment Management Board did not have sufficient standing to pursue claims concerning certificates other than the one it...
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