Originally posted on August 12, 2016
Los Angeles, CA
A New York state judge on Friday granted approval of a $4.5 billion settlement to resolve institutional investors’ claims that JPMorgan & Chase Co. misled consumers into buying risky residential mortgage-backed securities in the lead-up to the financial crisis in 2007, saying a lone objector’s argument lacked merit.
New York Supreme Court Judge Marcy S. Friedman found that the 2013 deal to resolve claims brought by holders of the securities backed by subprime mortgages that went bust during the financial crisis was negotiated in good faith…
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