Morgan Stanley must face $81m suit says 2nd Circ

Morgan Stanley must face a revived lawsuit, which alleges that the bank ought to buy back an $81m mortgage loan it had allegedly sold to investors despite hidden environment risks.

By Stewart Bishop (April 27, 2016, 2:29 PM EDT) -- The Second Circuit on Wednesday revived a suit asking Morgan Stanley to buy back an $81 million mortgage loan it allegedly sold to investors despite hidden environmental risks, saying a lower court erred by concluding the loan servicer waited too long to serve notice of a contractual breach....

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