Dexia Can't Kick JPMorgan RMBS Suit Back To State Court

Law360, New York (September 13, 2012, 3:28 PM EDT) -- A New York federal judge on Wednesday denied Dexia SA/NV's request to remand to state court the Belgian bank's case accusing JPMorgan Chase & Co. and others of fraud in the formation and sale of more than $1.7 billion in residential mortgage-backed securities.

U.S. District Judge Jed S. Rakoff shot down Dexia's motion without comment but said an opinion would be issued in due course.

The suit centers on Dexia's contention that JPMorgan, Bears Stearns & Co. Inc. and Washington Mutual Bank NA affiliates intentionally securitized...
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