Home > Economy, Fox Hunting > Fox Hunting: Allstate Sues JP Morgan Chase for $750 Million

Fox Hunting: Allstate Sues JP Morgan Chase for $750 Million

February 16, 2011

BREAKING NEWS: NEW YORK (TheStreet) — Allstate(ALL_) filed a lawsuit on Tuesday against JPMorgan Chase(JPM_), alleging it received false information involving $750 million in mortgage backed securities it purchased between 2005 and 2008.

The complaint was filed in New York state court against JP Morgan, Bear Stearns, and Washington Mutual for, “violations of state fraud and negligent misrepresentation laws and federal securities laws,” according to information provided by Allstate.

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