Purchasers of Morgan Stanley Mortgage Loan Trust 2006-6AR Mortgage Pass-Through Certificates May Lose Their Claims in Pending Class Action Unless an Investor Steps Forward
Robbins Geller Rudman & Dowd LLP Announces that Purchasers of the Morgan Stanley Mortgage Loan Trust 2006-6AR Mortgage Pass-Through Certificates May Lose Their Claims in the Pending Class Action Litigation Unless an Investor Steps Forward
September 22, 2011 – Robbins Geller Rudman & Dowd LLP (“Robbins Geller”), co-lead counsel in the litigation entitled In re Morgan Stanley Mortgage Pass-Through Certificates Litigation, Case No. 1:09-cv-02137-LTS, today announced that on Thursday, September 15, 2011, the court issued an order on defendants’ motion to dismiss, denying the motion in many respects. An amended complaint must be filed by September 30, 2011. However, claims for investors in one trust, the Morgan Stanley Mortgage Loan Trust 2006-6AR, may be eliminated from the case without recovery unless an investor that purchased securities issued by the trust serves as a class representative. The action alleges claims under Sections 11, 12 and 15 of the Securities Act of 1933 on behalf of investors in a number of Morgan Stanley mortgage-backed securities trusts, including the Morgan Stanley Mortgage Loan Trust 2006-6AR. The action alleges that the offering documents used to sell the pass-through certificates were false and misleading, in violation of the Securities Act.
An amended complaint must be filed by September 30, 2011. Investors in the Morgan Stanley Mortgage Loan Trust 2006-6AR have the opportunity to serve as a proposed class representative and ensure that such claims are included in this litigation. Please contact Arthur C. Leahy to discuss your legal rights if you bought certificates in this trust bearing any of the following CUSIP numbers:
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Geller Rudman & Dowd LLP
Arthur C. Leahy, 800-449-4900