Morgan Stanley Can't Shake $1B Prudential RMBS Suit

Law360, New York (March 15, 2013, 9:24 PM EDT) -- Morgan Stanley on Friday lost its bid to dismiss The Prudential Insurance Co. of America's lawsuit accusing it of fraud in the sale of more than $1 billion in residential mortgage-backed securities, with a New Jersey judge ruling that action should go forward for now.

Judge Paul Vichness' decision came down despite arguments from a Morgan Stanley attorney, Kevin H. Marino of Marino Tortorella & Boyle PC, that Prudential can't back up allegations that his client misrepresented RMBS certificates that were issued in connection with 41...
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