Investor Targets FINRA Ruling For JPMorgan In RE Fund Row

Law360, New York (August 9, 2012, 4:51 PM EDT) -- An investment vehicle on Wednesday sued J.P. Morgan Securities LLC in New York, seeking to overturn a Financial Industry Regulatory Authority arbitration ruling that freed the banking giant from claims that it misrepresented real estate investment funds that eventually plummeted in value.

Ersick Investments LP, which is operated by Steven Ersick, who in 1996 sold his business to Paychex Inc. for more than $100 million, accused JPMorgan of withholding vital information and telling outright lies to sell its real estate investment funds in a suit challenging...
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