In a decision yesterday, Judge Forrest denied a motion to dismiss a proposed class action challenging JP Morgan’s decision to hold onto certain notes from Lehman Brothers as the firm was collapsing. Judge Jones, before leaving the bench, had dismissed an earlier version of the complaint as based on conclusory “hindsight” (see our prior post on Judge Jones’ decision). Judge Forrest came to the opposite conclusion, based on the updated allegations:
Continue Reading Judge Forrest Allows Claim Against JP Morgan For Failing to Sell Lehman Notes to Proceed, And Indicates Case Will Move Swiftly