FHFA Wants $550M MBS Case Back In State Court

Law360, New York (November 8, 2011, 6:34 PM EST) -- The Federal Housing Finance Agency told a judge on Monday that Morgan Stanley & Co. and others were precluded from battling claims over $549 million in mortgage-backed securities in federal court, asking that the case be kicked back to New York state court.

The agency that oversees Fannie Mae and Freddie Mac argues that the defendants — General Electric Co., Morgan Stanley and Credit Suisse Group AG — improperly removed the case to federal court in violation of Section 22(a) of the Securities Exchange Act of...
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