NY high court backs JP Morgan against insurers in Bear Stearns claim
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NY high court backs JP Morgan against insurers in Bear Stearns claim

Eileen AJ Connelly
24 November 2021
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New York State’s highest court sided with JP Morgan in a case deciding whether insurance policies purchased more than a decade ago by former investment bank Bear Stearns applied in a 2003 Securities and Exchange Commission (SEC) probe.

Bear Stearns, the once-revered Wall Street stalwart that JP Morgan purchased for $2 per share in March 2008, reached a settlement with the SEC in the case, which involved late trading and deceptive market timing activities for certain clients.

The...

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Eileen AJ Connelly
Contributing Editor
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