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March 4, 2015

Morgan Stanley Enters Settlement Talks with NY AG

Reuters reports that Morgan Stanley has entered settlement talks with New York Attorney General Eric Schneiderman over its handling of subprime mortgage deals in the lead up to the 2008 financial crisis.

According to Reuters’ source, the settlement amount would be independent of the $2.6 billion the company has already agreed to pay to the DOJ and the U.S. Attorney’s Office for the Northern District of California just last month.

“Due to that settlement, Morgan Stanley revised the 2014 earnings it reported on Jan. 20 downward to $3.15 billion, or $1.60 per share, from $5.82 billion, or $2.95 per share.”

Read the full story here.

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