Bear Stearns Fights Mortgage-Backed Securities Suit

Law360, New York (April 22, 2010, 3:31 PM EDT) -- Bear Stearns Cos. and its successor JPMorgan Securities Inc., as well as two credit rating agencies, have asked a federal court to throw out a consolidated class action alleging that Bear Stearns misled investors into buying risky mortgage-backed securities.

The Bear Stearns defendants on Wednesday asked the U.S. District Court for the Southern District of New York to dismiss a consolidated class action brought by purchasers of mortgage pass-through certificates for lack of standing and for failure to state a claim. Moody's Investors Service and McGraw-Hill...
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