Morgan Stanley Beats False Ad Claims Over $72.4M Loss

Law360, San Francisco (October 24, 2013, 1:46 PM EDT) -- Morgan Stanley & Co. Inc. Wednesday beat Hong Leong Finance Ltd.'s false advertising suit claiming the bank tricked Singaporean investors into losing $72.4 million on risky collateralized debt obligations, after a New York federal judge ruled that Hong Leong didn't prove the bank had any contact with overseas investors.

U.S. District Judge Jesse Furman threw out Hong Leong's Lanham Act claims, which accused Morgan Stanley of illegally misleading foreign investors about the reliability of notes issued by Morgan Stanley special purpose vehicle Pinnacle Performance Ltd., because...
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