Morgan Stanley have failed again in their bid to get their Pinnacle lawsuit case heard in Singapore.
Previously, a group of investors had sued Morgan Stanley for their role in arranging the Pinnacle notes, a product which failed during the 2008 financial crisis.
Morgan Stanley wanted the case to be heard in Singapore and had tried to appeal an earlier decision that said the case should be heard in the US.
The US Court of Appeal rejected Morgan Stanley’s appeal.
With this decision, the path is now clear for the investors to try to establish their case against Morgan Stanley.
Morgan Stanley Loses Appeal in Pinnacle Case (Business Times)