The New Jersey Assembly panel investigating the Gov. Christie George Washington Bridge scandal released thousands of pages of documents Friday, Jan. 10, 2014.
JPMorgan Execs Hit With Derivative Suit Over $2.6B Deals
Law360, Los Angeles (January 10, 2014, 8:53 PM ET) — A JPMorgan Chase & Co. shareholder hit a number of the company’s top executives with a derivative action for breach of fiduciary duty in New York state court on Friday, saying the defendants knowingly disregarded responsibilities and caused $2.6 billion in settlements with federal prosecutors.
Beverly Adkins et al. v Morgan Stanley: Mortgage Securitization Discrimination Litigation
This landmark lawsuit was filed in the federal court in the Southern District of New York on behalf of Michigan Legal Services and African American homeowners in the Detroit, Michigan area. The suit claims that the Defendent violated federal and state housing and anti-discrimination laws by adopting mortgage securitization policies that caused predatory lending and adversely impacted African Americans. It is the first case where a prospective class of affected homeowners victimized by subprime lending abuses has directly sued an investment bank by linking civil rights and consumer laws. It is also the first lawsuit to connect racial discrimination to the securitization of mortgage-backed securities.
Download the Complaint (PDF)
New! Download the Judge’s Opinion & Order re: Motion to Dismiss, July 25, 2013 (PDF)