JPMorgan To Pay $500M In Landmark MBS Class Settlement

Law360, New York (May 28, 2015, 1:36 PM ET) — A New York federal judge signed off Wednesday on what is said to be the largest ever class action settlement revolving around the sale of mortgage backed securities, with JPMorgan Chase & Co. agreeing to plunk down $500 million to settle accusations arising from the sale of $17.58 billion in Bear Stearns Cos. securities.

U.S. District Judge Laura Taylor Swain agreed that the terms of the settlement were fair and also agreed to that class attorneys at Bernstein Litowitz Berger & Grossmann LLP and Cohen Milstein…

Source: Law360

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s