JPMorgan Must Disclose Inquiry In Billionaire's MBS Suit

Law360, New York (July 20, 2012, 5:50 PM EDT) -- A New York state judge Thursday ordered a JPMorgan Chase & Co. unit to disclose whether it's under investigation for its classification of mortgage-backed securities, a victory for a Russian-American billionaire who accuses the firm of reckless trading that cost him $98 million.

Judge Melvin L. Schweitzer of the New York State Supreme Court in the County of New York granted Len Blavatnik’s request that the company be required to disclose the employees “most knowledgeable” of any regulatory inquiry into its securities labeling practices.

Under the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.