Morgan Stanley settles for $2.6bn

Oliver Smith
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MORGAN Stanley yesterday reached an agreement in principle to settle mortgage-backed security-related claims with the US Department of Justice for $2.6bn (£1.67bn).

The settlement, disclosed in a Securities and Exchange Commission filing yesterday, follows years of litigation by investors over allegedly false and misleading statements made by Morgan Stanley over the securities in the run up to the 2008 financial crisis.

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