JPMorgan $280M MBS Settlement Preliminarily Approved

Law360, Los Angeles (May 2, 2014, 9:44 PM EDT) -- A New York federal judge on Friday signed off on a settlement in which JPMorgan Chase & Co. affiliates will pay $280 million to end a long-running consolidated class action accusing them of misleading investors into buying $36.8 billion worth of mortgage-backed securities.

U.S. District Judge Pamela K. Chen granted preliminary approval to the deal and preliminarily certified a class believed to consist of more than 2,850 investors who bought pass-through certificates in 26 offerings issued by JPMorgan affiliate J.P. Morgan Acceptance Corp. I between May...
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.