Morgan Stanley Settles Muni Derivative MDL For $6M

Law360, New York (August 30, 2010, 5:21 PM EDT) -- Morgan Stanley & Co. Inc. has agreed to pay more than $6 million to settle claims brought by a putative class of municipalities that it worked with about a dozen other banks and financial advisers to fix the prices of municipal derivatives sold in the United States.

The settlement calls for Morgan Stanley to pay $4.95 million to resolve the claims and $1.55 million to cover the notice and costs associated with administering the settlement, plaintiffs' firm Hausfeld LLP said Friday. Morgan Stanley is the first...
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