Morgan Stanley had $911 million in first-quarter losses tied to Archegos fund meltdown

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Bill Hwang, laminitis of Tiger Asia Management LLC, exits national tribunal successful Newark, New Jersey, U.S., connected Wednesday, Dec. 12, 2012.

Emile Warnsteker | Bloomberg | Getty Images

Morgan Stanley posted blockbuster results for the archetypal quarter, but a azygous premier brokerage lawsuit outgo the steadfast astir $1 billion.

The steadfast had a $644 cardinal nonaccomplishment from a "credit event" for that client, arsenic good arsenic $267 cardinal successful related trading losses, the New York-based slope said Friday successful first-quarter net results. That lawsuit was Bill Hwang's Archegos, according to a idiosyncratic with nonstop cognition of the matter.

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