Morgan Stanley Securities Suit Heads Back To State Court

Law360, New York (December 20, 2011, 10:25 PM EST) -- An Ohio federal judge on Tuesday sent back to state court a suit brought by a group of insurers and other investors accusing Morgan Stanley Mortgage Capital Inc. of misleading them into buying securities tied to bad mortgages.

In granting the plaintiffs’ motion to remand the suit to the Hamilton County Court of Common Pleas, U.S. District Judge S. Arthur Spiegel not only ruled Morgan Stanley had wrongly removed the case to the federal court in August by hitching itself to a bankrupt third party, but...
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