The dismissal of a securities fraud class action alleging Morgan Stanley concealed its exposure to and losses during the subprime mortgage market meltdown has been upheld by a federal appeals court.
The U.S. Court of Appeals for the Second Circuit made new law as it said a lower court was right to dismiss the case against Morgan Stanley and six of its officers because plaintiffs alleging fraud failed to adequately plead scienter.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
