NEW YORK (TheStreet) -- A federal judge dismissed a lawsuit brought against the Justice Department attempting to block a $13 billion settlement reached with JPMorgan Chase & Co. (JPM) - Get Report regarding faulty mortgage loans the financial institute sold to investors prior to the financial crisis, Reuters reports.

The Justice Department filed a motion last May to have the lawsuit brought by the non-profit group Better Markets dismissed, arguing that the group didn't have proper cause to sue.

"The plaintiff has failed to meet its burden to show it has suffered an injury in fact," Judge Beryl Howell wrote in her opinion, which was filed on Wednesday in the district court for the District of Columbia, Reuters added.

Shares of JPMorgan are down by 0.78% to $61.27 in mid-afternoon trading on Thursday.

Better Markets filed the lawsuit last February arguing that the settlement between JPMorgan and the Justice Department was "unlawful," saying the agreement gave the company "blanket civil immunity" for its actions with no proper judicial review, Reuters noted.

The Justice Department applauded the judge's decision stating it is "serious about examining the root causes of the financial crisis, and holding the appropriate people and companies accountable," according to Reuters.

Insight from TheStreet Research Team:

David Katz commented on JPMorgan in a recent post on RealMoneyPro.com. Here is what Katz had to say about the stock:

Yes, the banking industry has changed post 2008/2009, and the companies will have to deal with annual stress tests, a continued adversarial relationship with Washington and banking regulators, and continued lawsuits. However, the results indicate that the banks have adapted to navigating in this new operating environment, are making a lot of money, and are being allowed to return capital to their shareholders.

The media is highlighting that Morgan Stanley (MS) - Get Report, J.P.Morgan, and Goldman Sachs (GS) - Get Report only passed after resubmitting their capital plans. While this makes for inflammatory headlines, we think it is a normal part of the process, as the banks don't know how the Fed views the world until they release their findings. Most importantly, however, each was allowed to change its plan based on last week's results and resubmit it, and they were all allowed to increase their dividends at healthy clips and continue buying back stock.

-David Katz 'Banks' Stock Prices Will Improve' Originally Published on RealMoneyPro.com on 3/12/15.

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Separately, TheStreet Ratings team rates JPMORGAN CHASE & CO as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate JPMORGAN CHASE & CO (JPM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, expanding profit margins, notable return on equity and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

You can view the full analysis from the report here: JPM Ratings Report