ARS Suits Against JPMorgan Consolidated

Law360, New York (October 20, 2008, 12:00 AM EDT) -- A federal district judge has opted to consolidate several securities fraud suits against JPMorgan Chase & Co. over its auction rate securities and chosen a lead plaintiff to spearhead the charge against the investment giant.

On Friday, U.S. District Judge Richard Berman signed off on the consolidation request brought by Assif Group, which had been seeking to combine two new suits alleging JP Morgan marketed and sold certain auction rate securities as “highly liquid,” according to court documents.

Auction rate securities are bonds and preferred stocks...
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