NEW YORK (TheStreet) --Morgan Stanley (MS) agreed to pay $275 million to resolve accusations that the firm misled investors in two mortgage-backed securities deals, brought against the company by the SEC, the Wall Street Journal reports.
Morgan Stanley agreed to the settlement after an SEC investigation found that the company misrepresented the delinquency status of mortgage loans, including two subprime mortgage-backed deals, during a period when borrower delinquencies increased, the Journal added.
Shares of Morgan Stanley are up 0.66% to $33.57 in early afternoon trading on Thursday.
Must Read: Warren Buffett's 25 Favorite Stocks
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts