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Morgan Stanley Settles CalPERS/CalSTRS Lawsuit Alleging Bad Investments
Los Angeles Times Link to more items from this source
Apr. 26, 2019
"One of the world's largest investment banks has agreed to put $130 million into the nation's biggest public pension system to settle accusations it knowingly sold bad investments that caused the retirement fund for millions of workers to lose money.... From 2003-07, Morgan Stanley sold California's two largest pension systems bundles of thousands of mortgage loans. But according to [the California Attorney General], the financial giant did not adequately assess those loans to remove the risky ones and lied about it to the pension systems."

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