Muni Derivatives Suit Against 16 Firms Moves Ahead

Law360, New York (March 25, 2010, 4:39 PM EDT) -- A federal judge on Thursday refused to toss a proposed class action accusing JPMorgan Chase & Co., Wells Fargo & Co. Inc., UBS AG, Morgan Stanley and a dozen other financial institutions of fixing prices of municipal derivatives sold in the United States.

Judge Victor Marrero of the U.S. District Court for the Southern District of New York had dismissed the plaintiffs' consolidated amended complaint in April 2009. But he gave them a chance to replead, and this time around he allowed the case to move...
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