JP Morgan Settles $400 Million is Law Suit, All of the $ Goes to Insurance Company, None to Families Who Suffered

JP Morgan Settles $400 Million is Law Suit, All of the $ Goes to Insurance Company, None to Families Who Suffered

” JPMorgan Chase & Co (NYS:JPM) will pay $400 million to settle lawsuits brought by bond insurer Syncora Guarantee Inc (PKN:SYCRF) over toxic mortgage-backed securities, according to the insurer.”

The cases are Syncora Guarantee v. EMC Mortgage Corp, U.S. District Court for the Southern District of New York, No. 09-cv-3106; and Syncora Guarantee v. JPMorgan Securities, Syncora Guarantee v. EMC Mortgage, and Syncora Guarantee v. EMC Mortgage, New York state Supreme Court, New York County, Case Nos. 651566/2011, 650420/2012 and 653519/2012.

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