Morgan Stanley RMBS Settlement Website
HomeCase DocumentsContact Us

Welcome to the Morgan Stanley RMBS Settlement Website

This website has been established to provide general information related to the Morgan Stanley RMBS Settlement. The capitalized terms used on this website, and not defined herein, shall have the same meanings ascribed to them in the Stipulation and Agreement of Settlement (the "Stipulation") dated September 5, 2014. This litigation is pending in the United States District Court, Southern District of New York, and the case is known as In re Morgan Stanley Mortgage Pass-Through Certificates Litigation, Master File No. 09-cv-2137 (KBF). The judge presiding over this case is the Honorable Katherine B. Forrest, United States District Judge. The people who are suing are called "Plaintiffs," and those who are being sued are called "Defendants." In this case, the Defendants are Morgan Stanley Capital I Inc.; Morgan Stanley Mortgage Capital Inc.; Morgan Stanley Mortgage Capital Holdings LLC; Morgan Stanley & Co. Incorporated; Morgan Stanley; David R. Warren; Anthony B. Tufariello; William J. Forsell; and Steven S. Stern.

This class action arises from the sale of certain residential mortgage-backed securities by Morgan Stanley entities during 2006 and 2007. The Plaintiffs alleged that the offering documents for the securities contained false and misleading statements about the underlying borrowers and collateral, and filed a class action complaint against the Defendants.  Defendants deny that the offering documents contained misstatements and asserted factual and legal defenses.  Eventually, an agreement to settle the action, subject to the negotiation of a complete set of settlement terms, was reached and the negotiation of the Stipulation was subsequently completed and filed with the Court on September 8, 2014.

The Settlement, as approved by the Court on December 18, 2014, applies to all persons and entities who: (i) prior to December 2, 2008, purchased or otherwise acquired any of the 2006 Certificates pursuant or traceable to the 2006 Offerings and were damaged thereby; or (ii) prior to May 7, 2009, purchased or otherwise acquired any 2007 Certificates pursuant or traceable to the 2007 Offerings and were damaged thereby (the “Settlement Class”).  Defendants have agreed to pay $95,000,000.00 in cash for the benefit of the Settlement Class. 

Lead Counsel for this matter are Bernstein Litowitz Berger & Grossmann LLP and Robbins Geller Rudman & Dowd LLP.

Although the information in this website is intended to assist you, it does not replace the information contained in the Notice of Pendency of Class Action and Proposed Settlement and Final Approval Hearing (the "Notice"), Stipulation, Plan of Allocation and Order preliminarily approving the Settlement, all of which can be found and downloaded from this website. We recommend that you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

DO NOTHING. Get no payment. Remain a Settlement Class Member. Give up your rights.
REMAIN A MEMBER OF THE SETTLEMENT CLASS AND SUBMIT A CLAIM FORM POSTMARKED NO LATER THAN JANUARY 15, 2015. This is the only way to be potentially eligible to receive a payment. If you wish to obtain a payment as a Member of the Settlement Class, you will need to file a Claim Form, which can be downloaded from this website, postmarked no later than January 15, 2015.
EXCLUDE YOURSELF FROM THE SETTLEMENT CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION SO THAT IT IS RECEIVED NO LATER THAN NOVEMBER 26, 2014. Receive no payment pursuant to this Settlement. This is the only option that allows you to ever potentially be part of any other lawsuit against any of the Defendants or the other Released Parties concerning the Released Claims. 
OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN LETTER OF OBJECTION SO THAT IT IS RECEIVED NO LATER THAN NOVEMBER 26, 2014.

Write to the Court about your view on the Settlement, or why you don’t think the Settlement is fair to the Settlement Class.

If you do not exclude yourself from the Settlement Class, you may object to the Settlement, the Plan of Allocation, or the request for attorneys’ fees and Litigation Expenses.

You must still submit a Claim Form in order to be potentially eligible to receive any money from the Settlement Fund. 

GO TO THE HEARING ON DECEMBER 18, 2014 AT 1:00 P.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN NOVEMBER 26, 2014. Ask to speak in Court about the fairness of the Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and Litigation Expenses.