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Wednesday, April 23, 2025

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Pension Woes

SAN FRANCISCO – Morgan Stanley hid the risks of mortgage-backed securities it sold to California’s public-employee and teacher pension funds ahead of the 2008 financial meltdown and cost the funds millions, the Golden State says in court.

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Our weekly newsletter Closing Arguments offers the latest about ongoing trials, major litigation and rulings in courthouses around the U.S. and the world, while the monthly Under the Lights dishes the legal dirt from Hollywood, sports, Big Tech and the arts.

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