WaMu, Bear Stearns Knew MBS Risks: Dutch Pension Firm

Law360, New York (December 8, 2011, 8:01 PM EST) -- A Dutch pension firm sued JPMorgan Chase & Co. on Wednesday over losses stemming from mortgage-backed securities products sold through Bear Stearns & Co. and Washington Mutual Bank, contending the now-defunct firms knew the investments were riskier than their bond ratings indicated.

Stichting Pensioenfonds ABP filed suit in New York state court alleging that offering documents from Washington Mutual and Bear Stearns — which have since been absorbed by JPMorgan — left out vital information or made misleading statements that disguised the true health of the...
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