Morgan Stanley, Ratings Cos. Settle Long-Running SIV Suits

Law360, New York (April 26, 2013, 10:24 PM EDT) -- Morgan Stanley & Co. Inc., Moody's Investors Service and Standard & Poor's Rating Services settled claims Friday in two long-running class actions alleging they misled investors about structured investment vehicles that contained risky mortgage-backed securities.

Lead plaintiffs Abu Dhabi Commercial Bank and King County, Wash., filed joint stipulations of dismissal with the defendants Friday evening in the two suits, according to New York federal court records. The suits involved the collapse of the multibillion-dollar Cheyne and Rhinebridge SIVs, according to court records.

The McGraw-Hill Cos., which...
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