The New York company neither admitted nor denied wrongdoing, but Massachusetts Attorney General Martha Coakley accused Morgan Stanley of providing billions of dollars to subprime lender New Century Financial Corp., and then continuing to do business with the Irvine, Calif., subprime lender even though some of its loans violated guidelines at Morgan Stanley and lending laws in Massachusetts.
Morgan Stanley, Massachusetts Settle Subprime Case - WSJ.comMorgan Stanley, Massachusetts Settle Subprime Case - WSJ.com
Morgan Stanley agreed to pay $102 million to end a probe by Massachusetts into the Wall Street firm's role in the subprime-housing boom and bust.
