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Morgan Stanley to pay $2.6 billion to settle likely claims over mortgage bond sales

February 25, 2015, 11:07 PM UTC
Morgan Stanley
Morgan Stanley headquarters August 20, 2013 in New York's Times Square. AFP PHOTO/Stan HONDA (Photo credit should read STAN HONDA/AFP/Getty Images)
Photograph by Stan Honda—AFP/Getty Images

Morgan Stanley (MS) aid it will pay $2.6 billion to the U.S. Department of Justice and United States Attorney’s Office for the Northern District of California to resolve potential claims stemming from sale of mortgage bonds before the financial crisis.

Morgan Stanley also increased its legal reserves by about $2.8 billion, the bank said in a regulatory filing.