Morgan Stanley Says Investors Limited In $145M MBS Fight

Law360, New York (May 14, 2013, 6:19 PM EDT) -- A Morgan Stanley attorney told a New York state judge on Tuesday that investors were overreaching by trying to force it to undo a mortgage-backed securities deal that allegedly cost them $145 million, saying their only remedy was repurchase of defective loans.

Brian S. Weinstein of Davis Polk & Wardwell LLP, who represents Morgan Stanley Mortgage Capital Inc., told Judge Eileen Bransten during a hearing that the case was different from some of the other myriad mortgage-backed securities before state judges in Manhattan because it didn't...
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