April 25, 2019 / 6:07 PM / 3 months ago

Morgan Stanley to pay $150 mln to settle California mortgage securities charges

April 25 (Reuters) - Morgan Stanley will pay $150 million to settle charges it concealed the risk of mortgage-backed securities that were sold to two large California pension funds, the state's attorney general Xavier Becerra announced on Thursday.

The California Public Employees' Retirement System (CalPERS) will receive $122 million from the settlement, while the California State Teachers Retirement System (CalSTRS) will receive $8 million. The remainder will go to Becerra's office.

Reporting by Jonathan Stempel in New York Editing by Marguerita Choy

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