JPMorgan Chase has convinced a federal judge that it was not conflicted when it invested retirement plan money in Sigma Finance Inc., a structured investment vehicle, at the same time it extended billions of dollars in repo financing to Sigma before its 2008 collapse.
Southern District Judge Shira A. Scheindlin granted partial summary judgment to JPMorgan Chase and denied partial summary judgment to plaintiffs in a class action alleging JPMorgan was conflicted and should have disclosed that it had extended to Sigma a repo, or repurchasing agreement, a form of financing structured as a sale of securities with a simultaneous agreement to repurchase them at a later date.
This content has been archived.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]
