JPMorgan Wins Narrowing of $8.6 Billion Lehman Lawsuit
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JPMorgan Chase & Co., fighting Lehman Brothers Holdings Inc. over $8.6 billion the defunct firm wants back, won dismissal of some of Lehman’s claims, leaving it to fight the rest.
U.S. Bankruptcy Judge James Peck said Lehman cannot claim money from JPMorgan for securities transactions governed by so-called safe harbor law, devised to protect banks dealing with weak companies. Lehman is entitled to pursue the remaining “complex and fact driven causes of action,” he said in a decision filed yesterday in Manhattan.