Morgan Stanley Wants FCA Claims Cut From Calif.'s Suit

Law360, San Francisco (February 2, 2018, 9:01 PM EST) -- Morgan Stanley urged a San Francisco judge Friday to nix False Claims Act allegations from the California attorney general’s suit alleging the bank carelessly lost public retirement funds during the 2008 financial crisis, saying the state waited too long to sue.

Superior Court Judge Curtis Karnow started off the hearing by noting that the contract between the state and the bank included a waiver of the 10-year statute of repose under the California False Claims Act. He said that meant the central question of Morgan Stanley’s...
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