JPMorgan Seeks Transfer Of $6.4B Madoff Suit

Law360, New York (February 9, 2011, 3:47 PM EST) -- JPMorgan Chase & Co. has called the $6.4 billion lawsuit alleging it knew about Bernard Madoff's Ponzi scheme “an enormous backdoor class action,” and asked that it be transferred from bankruptcy court and held before a federal jury.

The bank filed a motion Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, asking Judge Burton Lifland to move the case to a U.S. district court, where a a jury, rather than a judge, will weigh the claims of court-appointed trustee Irving Picard....
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