JPMorgan, Goldman Sachs Ask Judge to Dismiss Mortgage Suit
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JPMorgan Chase & Co., Goldman Sachs Group Inc. and other banks asked a New York state judge to dismiss a $1.8 billion lawsuit brought by residential mortgage-backed securities investors.
The investors, which included Phoenix Light SF Ltd., sued New York-based JPMorgan, Goldman Sachs and the other lenders in New York state Supreme Court in Manhattan in May, accusing them of making misrepresentations about the loans backing the securities.