Hundreds of Irish nuns are alleging in a lawsuit that Morgan Stanley failed to properly dispose of “so-called Hybrid Structured euro constant maturity swap notes,” causing losses of at least $6.4 million.

The name of the lawsuit: The Sisters of Jesus and Mary v Morgan Stanley. Other plaintiffs suing Morgan include the Sisters of Charity of Jesus and Mary, the Holy Faith Sisters and the Irish Veterinary Benevolent Fund.

According to the lawsuit, first reported by Financial News, the swaps promised returns of 6.25 percent for at least four years and included a mandatory redemption clause that would force the sale of the notes if the underlying collateral bonds were downgraded to sub-investment grade.