Mealey's Securities/D&O Liability - Judge Grants Preliminary Approval Of $280M Securities Class Action Settlement

CENTRAL ISLIP, N.Y. - A federal judge in New York on May 2 granted preliminary approval of a $280 million securities class action settlement between investors and J.P. Morgan Corp. affiliates and certain of their officers and directors for misrepresenting the investment quality of certain residential mortgage-backed securities the defendants sold in violation of federal securities laws (Plumbers' and Pipefitters' Local #562 Supplemental Plan and Trust, et al. v. J.P. Morgan Corp. I, et al., No. 08-1713, E.D. N.Y.).

Access this news story on lexis.com®