Monday, April 30, 2012

JPMorgan wins second victory in Lehman-linked lawsuit

Flag hangs on the wall of the JP Morgan company stall on the floor of the New York Stock Exchange in New York(Reuters) - JPMorgan Chase & Co on Friday won the dismissal of a pension fund lawsuit accusing it of mishandling its money by investing in notes from its client Lehman Brothers Holdings Inc, which later went bankrupt. The decision by U.S. District Judge Barbara Jones in Manhattan is JPMorgan's second court victory in a Lehman matter in two days. On Thursday, U.S. Bankruptcy Judge James Peck in Manhattan narrowed Lehman's own $8.6 billion lawsuit against JPMorgan, once its main clearing bank. ...


No comments: