California Appeals Attorney

Attorney General Kamala D. Harris Files Suit Against Morgan Stanley Over False Claims and Securities Violations

SAN FRANCISCO – Attorney General Kamala D. Harris today filed a lawsuit against investment bank Morgan Stanley for misrepresentations about complex investments such as residential mortgage-backed securities, in which large pools of home loans were packaged together and sold to investors. These misrepresentations contributed to the global financial crisis and to major losses by investors including California’s public pension funds, which are responsible for the retirement security of California peace officers, firefighters, teachers, and other public employees.

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