2nd Circ. Sinks Merger Fraud Suit Against JPMorgan

Law360, New York (June 18, 2010, 4:09 PM EDT) -- A federal appeals court has affirmed the dismissal of One Communications Corp.'s suit accusing JPMorgan Chase & Co. of duping the telecommunications company into paying millions of dollars more than it should have for Lightship Telecom LLC, a local exchange carrier partly owned by the investment bank.

One Communications produced no evidence to back its allegations that the investment bank was attempting a deception, according to Thursday's summary order by the U.S. Court of Appeals for the Second Circuit.

One Communications filed the suit in the...
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