Merrill, JPMorgan, Others Freed From $100M CDO Suit

Law360, Los Angeles (March 25, 2014, 8:13 PM EDT) -- A Florida federal judge on Tuesday threw out a $100 million lawsuit brought by a credit union that alleged units of Bank of America Corp., Wells Fargo & Co., JPMorgan Chase & Co. and others purposely misled it into investing in collateralized debt obligations that later failed.

U.S. District Judge James I. Cohn dismissed the suit for a second time, this time denying leave to amend the complaint, finding that Space Coast Credit Union hadn’t met its burden of showing how what happened in the CDO...
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