Better Markets Inc., a nonprofit led by a former partner at Skadden, Arps, Slate, Meagher & Flom, filed an unusual lawsuit Monday challenging the legality of the U.S. Department of Justice’s $13 billion mortgage settlement with J.P. Morgan Chase & Co.
“There was no judicial review or proceeding at all regarding this historic and unprecedented settlement,” Better Markets CEO Dennis Kelleher wrote in a complaint filed on Monday in U.S. district court in Washington. “The $13 billion agreement is a mere contract whereby JP Morgan agreed to pay $13 billion in exchange for complete civil immunity from DOJ for years of pervasive, egregious, and knowing alleged fraud.”
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
