February 25, 2014
by G. Redd
Sub-prime loan practices began in the mid-1980s as lawmakers sought to increase housing opportunities. Prior to this, many Americans were unable to purchase a home due to credit scores below 550. Census data compiled by the Federal Reserve shows that over half of the failed mortgage payments were ...[read more]
October 15, 2012
by Kyle Webster
The American Civil Liberties Union (ACLU) on Monday filed a lawsuit against Morgan Stanley over allegedly discriminatory practices leading up to the housing crisis of 2008. According to the ACLU, between 2004 and 2007 Morgan Stanley and its affiliates, including New Century Mortgage Company, ...[read more]
April 18, 2011
by Zach Zagger
An Italian court in Milan on Monday acquitted four banks charged with failing to have adequate steps to prevent the 2003 Parmalat SpA dairy empire crash. Parmalat collapsed under 14 billion euros in debt and is the largest corporate collapse in Europe. Citigroup, Deutsche Bank, Morgan Stanley ...[read more]
September 22, 2008
by Deirdre Jurand
The Federal Reserve Board on Sunday preliminarily approved applications by independent investment banks Goldman Sachs and Morgan Stanley to convert to bank holding companies, which would put the banks under Federal Reserve regulation, grant them increased access to bank funds and allow them to ...[read more]
February 19, 2008
by Devin Montgomery
The US Supreme Court heard consolidated oral arguments Tuesday in Morgan Stanley Capital Group v. Public Utility Dist. 1, 06-1457, and American Elec. Power Service Corp. v. Public Utility Dist. 1, 06-1462. Both cases involve long-term contracts made between energy suppliers and a local public ut... ...[read more]
June 13, 2007
by Gabriel Haboubi
Citigroup, UBS, Morgan Stanley, and Deutsche Bank were charged Wednesday in Milan in connection with the collapse of Italian dairy giant Parmalat SpA. Judge Cesare Tacconi issued the indictments accusing the banks of a form of criminal negligence for not revealing to the market that Parmalat was ...[read more]
May 10, 2007
by Mike Rosen-Molina
Two lawyers pleaded guilty Thursday to participating in a massive insider trading scheme that US federal prosecutors have called the most extensive such fraud uncovered since the 1980s. Former Morgan Stanley lawyer Randi Collotta and her husband Christopher admitted to conspiracy and securities ...[read more]
March 21, 2007
by Joshua Pantesco
The Florida Fourth District Court of Appeal on Wednesday overturned a $1.58 billion 2005 jury verdict awarded to billionaire financier and Revlon chairman Ron Perelman, finding that the plaintiffs failed to prove compensatory damages. Coleman Parent Holdings, Inc., of which Perelman held a ...[read more]
June 28, 2006
by James M Yoch Jr
A lawyer for Morgan Stanley asked a three-judge panel of the Florida Fourth District Court of Appeal on Wednesday to overturn a disproportionate 2005 jury verdict awarded to billionaire financier and Revlon Chairman Ron Perelman. In oral arguments Wednesday, lawyer Bruce Rogow asserted t... ...[read more]
June 28, 2006
by Joshua Pantesco
Financial firm Morgan Stanley & Co. Inc on Tuesday agreed to pay a $10 million settlement to the US Securities and Exchange Commission without admitting or denying allegations made by the SEC that Morgan Stanley failed to protect against potential misuse of insider trading information as ...[read more]

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