Abu Dhabi Commercial Bank is suing Morgan Stanley & Co., Bank of New York Mellon Corp. and three securities ratings services for allegedly rating too highly a structured investment vehicle that collapsed last year, reports Bloomberg News.

The bank, based in the United Arab Emirates, seeks unspecified money damages and class-action, or group, status on behalf of everyone who invested in the vehicle launched by Cheyne Finance Plc from October 2004 to October 2007, according to a complaint filed yesterday in federal court in Manhattan.

``The financial instruments plaintiff purchased, which defendants represented had high investment-grade credit ratings, are now worth zero,'' lawyers for the bank said in the complaint.

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