J.P. Morgan Wins in Lehman Lawsuit

Wall StreetReuters

A federal judge ruled in favor of JPMorgan Chase & Co (NYSE:JPM) in an $8.6 billion lawsuit brought on behalf of Lehman Brothers Holdings Inc creditors.

In a decision made public on Thursday, U.S. District Judge Richard Sullivan in Manhattan rejected claims that JPMorgan abused its power as Lehman's main "clearing" bank to extract billions of dollars of collateral in the days before Lehman filed for bankruptcy protection on Sept. 15, 2008.

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