
Morgan Stanley agreed to return the funds invested by various Massachusetts municipalities in Auction Rate Securities. This was in settlement of allegations it Deceived/Defrauded the investors that the securities were permissable investments under Massachusetts law. For more info visit https://web.archive.org/web/20080925121627/http://www.mass.gov/?pageID=cagopressrelease&L=1&L0=Home&sid=Cago&b=pressrelease&f=2008_08_07_morgan_stanley_agreement&csid=Cago