Allstate agreed to settle a 2011 lawsuit accusing Morgan Stanley of fraud over more than $100 million worth of mortgage-backed securities in which the insurer invested.
AIG may file a lawsuit against Morgan Stanley related to $3.7 billion worth of mortgage securities that the investment bank sponsored or underwrote from 2005 to 2007, and which AIG purchased, according to a regulatory filing.
Financial institutions Morgan Stanley and HSBC reached an agreement with guaranty insurer MBIA to withdraw from their legal challenges and go their separate ways, leaving five firms to battle it out over the insurers restructuring and accusations the banks fraudulently secured insurance coverage.
Financial institutions Morgan Stanley and HSBC reached an agreement with guaranty insurer MBIA to withdraw from their legal challenges and go their separate ways, leaving five firms to battle it out over the insurers restructuring and accusations the banks fraudulently secured insurance coverage.
Allstate Insurance Co. has filed another lawsuit in New York State Supreme Court seeking to recover investment losses on residential mortgage-backed securities.
Allstate Corp. has added to its tally of New York lawsuits seeking to recover investment losses on residential mortgage-backed securities with a filing against Morgan Stanley.
Based on property and casualty companies’ pre-announcements and other data, losses from the Feb. 22 New Zealand earthquake damages could be as much as three-times worse than the September quake in the same region, Morgan Stanley said.
Morgan Stanley analyst William Wilt said his bank's net long position on the p-c insurance group reflects the belief that the stocks are not expensive "and they still offer defensive attributes versus