Assured Guaranty's Lawsuit Looms
A lawsuit by Assured Guaranty has been reinstated.
NEW YORK (
) --
Assured Guaranty
's
(AGO) - Get Report
lawsuit alleging that a
JPMorgan Chase
(JPM) - Get Report
concealed risks in investing in subprime mortgage-backed securities has been reinstated by a New York appeals court.
The lawsuit was dismissed in January, according to
Bloomberg.
.
J.P. Morgan acted as investment manager for Assured Guaranty's special purpose vehicle called Orkney Re II p.l.c. The special purpose vehicle had $553 million of assets.
--Written by Maria Woehr in New York.
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