Morgan Stanley Latest To Exit Muni Bond Bid-Rigging MDL

Law360, Los Angeles (January 23, 2014, 9:22 PM EST) -- Morgan Stanley joined a string of financial institutions agreeing to settlements in multidistrict litigation accusing them of colluding to rig bids in the municipal bond derivatives market, disclosing in a filing Thursday that it had reached a deal with the suit’s plaintiffs.

The terms of Morgan Stanley’s deal were not disclosed, but a stipulation for dismissal signed Wednesday showed the firm would end its dispute with the issuers that alleged it was part of a scheme to artificially boost bids on their bonds.

The deal is...
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