Morgan Stanley Can Be Sued by Hong Leong Over Misselling
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Morgan Stanley can be sued by Singapore’s Hong Leong Finance Ltd. in a New York court over claims it deceptively sold instruments designed to fail.
Morgan Stanley’s request to stop Hong Leong from a lawsuit in the U.S. was rejected by Singapore High Court judge Belinda Ang, the Singapore-based company said in papers filed yesterday in federal court in Manhattan. Ang in November granted an interim order preventing Hong Leong from suing Morgan Stanley.