Morgan Stanley Latest Target Of DZ Bank Over $694M RMBS

Law360, New York (November 21, 2012, 7:47 PM EST) -- Morgan Stanley is the latest investment bank to be targeted by Frankfurt am Main-based DZ Bank AG over residential mortgage-backed securities for allegedly misrepresenting the underwriting quality of the loans behind the more than $694 million in RMBS it sold DZ Bank.

In a complaint filed in New York state court, DZ Bank — which has previously targeted other investment banking giants including Goldman Sachs Group Inc., Barclays Bank PLC and UBS AG — claimed that Morgan Stanley had also misrepresented other details about the loans...
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