JPMorgan Seeks Dismissal Of Syncora, Assured Cases

Law360, New York (December 6, 2012, 3:54 PM EST) -- A JPMorgan Chase & Co. attorney urged a New York state judge Thursday to dismiss lawsuits from two monoline insurers over the $169 million they lost insuring the bank's mortgage-backed securities, arguing that they could've done their own homework.

Sharon L. Nelles of Sullivan & Cromwell LLP, who represents JPMorgan, said during a hearing that monoline insurers Syncora Guarantee Inc. and Assured Guaranty Corp. were sophisticated insurers who knew what they were getting into and could've done their own due diligence when they insured securities put...
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