NEW YORK: Morgan Stanley said on Monday that the New York Attorney General's office has indicated that it intends to file a lawsuit alleging that the Wall Street bank misrepresented or omitted material information in about 30 subprime securitizations.
In its annual 10-K regulatory filing, Morgan Stanley said it does not agree with the allegations and presented defenses to the New York Attorney General.
It also said legal expenses last year rose to $3.41 billion last year from $1.95 billion in 2013.
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