JPMorgan Dodges Dexia's $774M RMBS Fraud Claims

Law360, New York (April 3, 2013, 4:56 PM EDT) -- A New York federal judge on Wednesday dismissed all claims brought by Belgian bank Dexia NV/SA in its suit accusing JPMorgan Chase Bank NA of selling defective residential mortgage backed securities, a decision that allows JPMorgan to dodge about $774 million in alleged damages.

U.S. District Judge Jed S. Rakoff  granted summary judgment dismissing Dexia’s fraud claims against JPMorgan with prejudice while declining to toss about $5.7 million in claims brought by co-plaintiff FSA Asset Management LLC.

Judge Rakoff said an opinion on the case is...
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