Morgan Stanley, SEC in proposed $275M settlement of mortgage bond probe


Morgan Stanley (MS) reveals in its annual 10-K filing that it has reached a preliminary agreement to pay $275M to settle an SEC investigation into subprime mortgage bond trades from 2007.

The deal in principle, reached on Jan. 30, would resolve allegations that the bank misled investors in mortgage bonds that collapsed during the financial crisis.

Overall, MS said in the filing that litigation expenses totaled $1.95B last year, which includes the SEC case as well as a recently announced agreement to settle a $1.25B dispute with the Federal Housing Finance Agency.

From other sites
Comments (2)
  • curreyr
    , contributor
    Comments (730) | Send Message
     
    pfft $275M drop in a bucket

     

    paid to whom?
    25 Feb 2014, 05:38 PM Reply Like
  • hogs&hawks
    , contributor
    Comments (3) | Send Message
     
    It's amazing how a criminal organization just pays $275m but is not guilty.
    2 Mar 2014, 10:21 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs