Judge Halts $92M JPMorgan Deal In Muni Bond MDL

Law360, Los Angeles (July 18, 2011, 8:30 PM EDT) -- The New York federal judge overseeing multidistrict litigation over alleged bond-market rigging by several financial institutions on Friday halted a $92 million outside settlement between JPMorgan Chase & Co. and a group of 25 state attorneys general.

U.S. District Judge Victor Marrero ordered JPMorgan to abide by the terms of a March order putting a hold on a similar $137 million deal between the group and Bank of America Corp. The judge issued the order after class counsel in the MDL cried foul, arguing that the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.