GE, JPMorgan Dispute Money Damages In $2B MBS Trust Suit

Law360, New York (October 15, 2013, 1:19 PM EDT) -- Investors suing General Electric Capital Corp. and JPMorgan Chase & Co. subsidiaries over their alleged misrepresentations in a $1.9 billion mortgage-backed securities trust can only seek the loans' repurchase, the companies' attorneys told a New York state judge Tuesday.

The Bank of New York Mellon Corp., acting as the securities' trustee, brought the suit after some of the securities' investors insisted that it act. It alleged that the trust had suffered $650 million in damages because of misrepresentations made by originator GE subsidiary WMC Mortgage LLC...
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