Allstate RMBS Lawsuit to Stay in Federal Court

more+
less-

On March 27, 2012, Judge Deborah A. Batts of the Southern District of New York denied Allstate Insurance Co.’s motion to remand its lawsuit against JPMorgan Chase Bank NA to state court. The lawsuit arises out of alleged misrepresentations and omissions by JPMorgan regarding the riskiness and credit quality of over $700 million in RMBS sold to Allstate. Judge Batts found federal subject matter jurisdiction based on the FDIC’s presence as a third-party defendant.  Order.

Written by:

more+
less-

Orrick, Herrington & Sutcliffe LLP on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×