Late Audits Halt Trading In Morgan Stanley-backed Stocks

WASHINGTON (AP) — Two major companies in a prominent $1.4 billion Asia investment fund managed by New York banking giant Morgan Stanley unexpectedly told securities regulators they will not file their financial statements on time and froze trading in their stocks, actions generally considered to be cause for concern. The fund's American investors include the Oregon public employees' retirement, the University of Michigan's endowment and a foundation supporting Appalachian children at risk. The publicly traded companies, Tianhe Chemicals Group Ltd.

 

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