Bank Trio Loses N.Y. State Court Bid to Dodge MBS Fraud Claims

, The Litigation Daily

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Judges in New York just keep doling out bad news for banks caught up in litigation over mortgage-backed securities. The latest defendants to feel the sting are Deutsche Bank, Merrill Lynch, and Morgan Stanley, which learned Friday that they can't escape fraud claims in state court in Manhattan over a combined $457 million in MBS gone sour.

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