Judge Tosses ECOA Suit Against JP Morgan Chase

Law360, New York (August 18, 2008, 12:00 AM EDT) -- A federal judge on Friday tossed out a lawsuit alleging that a unit of JP Morgan Chase & Co. declined to lend more than $100 million to a company owned by two black men seeking to purchase a Texas oil refinery because of their race.

Judge Laura Taylor Swain of U.S. District Court for the Southern District of New York ruled that AMS Group LLC, which was characterized in the decision as a now-defunct minority-owned business, did not meet the deadlines necessary to file discrimination claims...
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