Morgan Stanley Can't Shake Asian Investors' CDO Suit

Law360, New York (November 3, 2011, 5:17 PM EDT) -- A New York federal judge on Monday denied Morgan Stanley & Co. Inc.'s motion to dismiss a putative class action by Singaporean and other Asian investors in nearly $155 million of credit-linked notes who say Morgan Stanley designed the notes to fail.

U.S. District Judge Leonard B. Sand allowed the case to move forward, saying the plaintiffs had sufficiently argued that Morgan Stanley designed the notes in a way that guaranteed they would fail while the bank profited.

According to the complaint, filed in October 2010,...
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Case Information

Case Title

Dandong et al v. Pinnacle Performance Limited et al


Case Number

1:10-cv-08086

Court

New York Southern

Nature of Suit

Other Fraud

Judge

Jesse M. Furman

Date Filed

October 25, 2010

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