JPMorgan Gets Partial Win In $13M Meritage Contract Suit

Law360, New York (September 5, 2012, 3:04 PM EDT) -- A Nevada federal judge on Tuesday ruled partly in JPMorgan Chase Bank NA's favor in its $13 million lawsuit against Meritage Homes Corp., finding Meritage liable for a share of a loan agreement to a bankrupt developer, but denying the lender's request for damages.

In a summary judgment order, Judge Philip M. Pro sided with JPMorgan, saying it did not act in bad faith in its dealings with Meritage. He ruled Meritage was liable under the loan's repayment guaranty, though he also ruled Meritage can conduct...
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