Telecom's Merger Fraud Suit V. JPMorgan Tossed

Law360, New York (April 1, 2009, 12:00 AM EDT) -- A judge has tossed for good a securities suit brought by One Communications Corp. that accused JPMorgan Chase & Co. of defrauding it in connection with the telecommunications company's acquisition of regional rival Lightship Telecom LLC.

Judge Laura Taylor Swann of the U.S. District Court for the Southern District of New York on Tuesday dismissed the complaint in its entirety, saying One Communications had produced no evidence to back its claims that the bank — which partially owned Lightship — knew it had deceived the plaintiff...
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