Investors Say Banks Seek To Limit Stakes Shortly Before Trial

By Jack Newsham (March 20, 2018, 7:18 PM EDT) -- Bondholders in a bankrupt hospital who sued the Bank of New York Mellon Corp. and JPMorgan Chase & Co. for allegedly mishandling $36 million in debt asked a Pennsylvania federal judge on Monday to reject the banks' effort to narrow the scope of the case less than a month before it goes to trial.

Trust companies owned by the two financial giants have said U.S. District Judge Legrome Davis erroneously allowed certain noncontract claims against them to advance, even though the case revolves around contracts. But investors, led by named plaintiff Leonard Becker, defended the rulings and said BNY Mellon and...

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