Asset Management Fund Sues Morgan Stanley In Connection With Sale Of $122 Million in RMBS

On May 2, 2012, mutual fund Asset Management Fund and related affiliates filed a summons with notice to commence an action against Morgan Stanley in the Supreme Court of the State of New York seeking $122 million in compensatory and $122 million in punitive damages arising from alleged fraudulent misstatements and omissions made in connection with RMBS. The fund makes claims for fraud, negligent misrepresentation, aiding and abetting fraud, declaratory judgment, breach of contract, and rescission. Summons.

Published In: Business Torts Updates, Civil Remedies Updates, Finance & Banking Updates, Insurance Updates, Residential Real Estate Updates

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