Class Cert. Rejected in Chase Flood Insurance Kickback Suit
By Gavin Broady
Law360, New York (February 5, 2013, 7:34 PM ET) -- A Florida judge on Tuesday rejected a bid for class certification brought by JPMorgan Chase Bank NA mortgage customers who accuse the bank of scheming to force them to buy high-premium flood insurance policies while taking kickbacks from American Security Insurance Co.
Judge Virginia M. Hernandez Covington denied certification in the suit after determining the plaintiffs had failed to demonstrate that all members of the proposed class had signed a uniform contract with Chase and therefore fell short of satisfying the required element of commonality....