JPMorgan Denied Motion to Dismiss Syncora Guarantee Suit
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JPMorgan Chase & Co. lost a motion to dismiss a suit filed by Syncora Guarantee Inc. accusing Bear Stearns & Co. of making false and misleading statements connected with a mortgage-backed securities transaction.
The bond insurer sued JPMorgan Securities LLC, formerly Bear Stearns, in New York state Supreme Court in Manhattan in June 2011 over the transaction, known as GreenPoint Mortgage Funding Trust 2007-HE1.