Law360-
Units of Wells Fargo and other banks went back to New York state court Friday to ask for guidance on how they, as trustees for a slew of residential mortgage-backed securities trusts, should distribute the $4.5 billion they expect to receive soon from a settlement between JPMorgan and a group of investors in the trusts.
The settlement, which resolved the investor group’s claims that JPMorgan Chase & Co. misled them into buying defective mortgage bonds in the lead-up to the financial crisis of 2007, received approval…
[LAW 360]
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