$13B JPMorgan Deal Leads To New Investor Suit In Calif.

Law360, Los Angeles (November 20, 2013, 9:10 PM EST) -- JPMorgan Chase & Co. and its top executives were hit with a lawsuit in California federal court on Wednesday, by a shareholder who said that the execs harmed the company through subprime mortgage practices and that a recent $13 billion settlement showed the “true extent and seriousness of the misconduct.”

The derivative claims are focused on JPMorgan's alleged misconduct in the origination, securitization, marketing and sale of subprime residential mortgage-backed securities, and allege that senior officers and directors of JPMorgan either knowingly authorized or recklessly permitted...
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