JPMorgan, Mutual Funds Settle $225M MBS Lawsuit

Law360, New York (August 14, 2013, 2:24 PM EDT) -- JPMorgan Chase & Co. and a group of mutual funds settled a New York lawsuit over $225 million worth of mortgage-backed securities Tuesday, weeks after a Manhattan judge tossed a  lawsuit against Morgan Stanley that involved similar statute of limitations issues.

Mutual funds run by Shay Assets Management Inc. filed a stipulation of discontinuance in Manhattan the day before scheduled oral argument before Judge O. Peter Sherwood on the bank's motion to dismiss their complaint, following another New York state judge's decision last month to dismiss...
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