JPMorgan must face lawsuit over Lehman investments

A pension fund has accused the bank of investing in unsecured Lehman notes, which subsequently lost 85 percent of their value

It’s been four and a half years since Lehman Brothers Holdings Inc. collapsed, but fallout from the bank’s failure is still continuing, as JPMorgan Chase & Co. found out in court on Wednesday.

A federal judge ruled that JPMorgan must face a lawsuit brought by the Operating Engineers Pension Trust (OEPT) of Pasadena, California, which is accusing the bank of making faulty investments in unsecured Lehman notes.

Alanna Byrne

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