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Close Topic OptionsInvestment bank sued by USVI pension fund over failed $1.2 billion mortgage-backed notes
Investment Bank Sued Usvi Pension Fund Failed - Trinidad, Tobago / Caribbean - Posted: 8th Jan, 2010 - 9:05am
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US Virgin Islands - News from the US Virgin Islands
Post Date: 8th Jan, 2010 - 9:05am / Post ID: #
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Investment bank sued by USVI pension fund over failed $1.2 billion mortgage-backed notes
Investment bank sued by USVI pension fund over failed $1.2 billion mortgage-backed notes
US Virgin Islands News
NEW YORK, USA (Reuters) -- Morgan Stanley has been sued by a US Virgin Islands pension fund that accused the Wall Street bank of defrauding investors by marketing $1.2 billion of risky mortgage-related notes that it expected to fail. According to the complaint, the CDO was backed by low-quality assets.
Source: Caribbean Net News Daily Headlines: US Virgin Islands
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TOPIC: Investment bank sued by USVI pension fund over failed $1.2 billion mortgage-backed notes