New York Justice Won’t Dismiss Coverage Suit Arising From Bear Stearns’ Settlement
(July 18, 2016, 11:16 AM EDT) -- NEW YORK — A New York justice on July 7 refused to dismiss a lawsuit seeking indemnification from insurers for claims stemming from Bear Stearns’ settlement of Securities and Exchange Commission and New York Stock Exchange (NYSE) regulatory proceedings and private litigation over claims that it facilitated customers’ deceptive market timing and late trading activities (J.P. Morgan Securities, et al. v. Vigilant Insurance, et al., No. 600979/2009, N.Y. Sup., New York Co.).
J.P. Morgan Securities Inc., J.P. Morgan Clearing Corp. and The Bear Stearns...