For the second time, Southern District Judge Shira Scheindlin has denied a Morgan Stanley motion to dismiss a suit based on the failure of a structured investment vehicle.
In a 30-page decision, Judge Scheindlin permitted noteholders to proceed with claims that Morgan Stanley committed common law fraud and aiding and abetting in the collapse of a structured investment vehicle called Rhinebridge. Last year, Judge Scheindlin denied Morgan Stanley’s request to dismiss a similar case involving the collapse of an investment vehicle called Cheyne Finance.
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