Investors Want In On $350M CFC Litigation, Fed. Circ. Hears
By Brian Mahoney
Law360, New York (October 11, 2013, 10:11 PM EDT) -- Investors with a stake in a $350 million breach of contract case between a bank owned by JPMorgan Chase Bank NA and the federal government asked a Federal Circuit panel on Friday for permission to join the litigation, saying the Court of Federal Claims had erred in denying their motion to intervene.
The group of investors hold so-called litigation tracking warrants in the case, which arose when Anchor Savings Bank — now controlled by JPMorgan — sought damages from the federal government for new banking regulations...