Judge Rules JPMorgan To Face Class Action Suit Over $10 Billion Mortgage-Based Securities

A federal judge ruled that America's largest bank, JPMorgan Chase & Co, will have to face a class-action lawsuit that claims the bank gave misleading advice to a group of investors, convincing them to buy $10 billion of mortgage-backed securities ahead of the 2008 financial crisis. According to a Reuters report, the Tuesday ruling by U.S. District Judge Paul Oetken ordered that JPMorgan was liable but did not specify damages.