JP Morgan wards off $100mn Bear Stearns suit
JP Morgan has won the dismissal in court of CIFG Assurance North America's $100mn suit over losses it incurred on Bear Stearns collateralised debt obligations.
By Jacob Batchelor (June 26, 2015, 7:07 PM EDT) -- J.P. Morgan Securities LLC won the dismissal of an insurer's $100 million suit over losses on Bear Stearns Cos. Inc. collateralized debt obligations, with a New York court finding Friday that arranging a CDO deal does not make one an insurance applicant under state law....

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