The settlement with Morgan Stanley is the latest in a string of actions by WilliamGalvin, Secretary of the Commonwealth of Massachusetts, who has aggressively pursued securities violations.
Massachusetts Secretary of State WilliamGalvin said the strategy is a ploy to escape responsibility and civil penalties for the money fund's collapse if the Bents lose a jury verdict.
The subpoena was served by Secretary of the Commonwealth WilliamGalvin and seeks information about whether the leading Wall Street firm received secret payments from insurance companies to sell their variable annuity products.