Nonprofit Seeks to Enjoin DOJ Settlement with JP Morgan

Orrick - Finance 20/20
Contact

On February 10, non-profit corporation Better Markets, Inc., filed a complaint in the United States District Court for the District of Columbia against the United States Department of Justice and the Attorney General of the United States. The complaint seeks injunctive and declaratory relief in connection with the recent US$13 billion settlement between DOJ and JPMorgan Chase & Co. The settlement covers allegedly misleading conduct in RMBS securitizations. Better Markets alleges that the DOJ did not have the authority to confidentially negotiate the settlement and then enter into the deal without court approval. Better Markets asks the court to enjoin the DOJ from enforcing the agreement unless it is reviewed by a court, and to declare that the DOJ violated the Administrative Procedures Act and 28 U.S.C. Section 2201(a). Complaint.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Orrick - Finance 20/20 | Attorney Advertising

Written by:

Orrick - Finance 20/20
Contact
more
less

Orrick - Finance 20/20 on:

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:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide