Deals
NY Attorney General Says More Suits Will Follow JPMorgan
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The New York lawsuit over mortgage-backed securities against JPMorgan Chase & Co., the biggest U.S. bank, will serve as a template for suits against other issuers, state Attorney General Eric Schneiderman said.
Schneiderman alleged that the Bear Stearns business that JPMorgan took over in 2008 deceived mortgage-bond investors about the defective loans backing securities they bought, leading to “monumental losses,” according to a complaint filed yesterday in New York State Supreme Court.