On September 8, a stipulation and agreement of settlement was filed in relation to an action brought against Morgan Stanley & Co. by a group of pension funds led by Public Employees’ Retirement System of Mississippi and the West Virginia Investment Management Board. In the putative class suit, the funds alleged that Morgan Stanley misled institutional investors about the mortgage pools underpinning its mortgage-backed securities. Under the settlement agreement, Morgan Stanley will pay US$95 million to buyers of certain mortgage-backed securities issued in 2006 and 2007 without admitting to liability or wrongdoing. Stipulation and Agreement.