Mr Cooper Group Inc (COOP): Just saw this...not sure if this was po...

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Soldier Of Fortune

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Tuesday, 01/27/2015 2:44:18 PM

Tuesday, January 27, 2015 2:44:18 PM

Just saw this...not sure if this was posted earlier...

The Wall Street Journal
J.P. Morgan to pay $500 million to settle lawsuit

JulieSteinberg

J.P. Morgan Chase & Co. has agreed to pay roughly $500 million to settle a class-action lawsuit over nearly $18 billion worth of shoddy mortgage-backed securities sold by Bear Stearns Cos., according to a court document and a person familiar with the matter.

Lawyers for the plaintiffs, led by a group of pension funds, filed a letter in U.S. District Court in Manhattan Thursday in which they stated “the parties have reached an agreement in principle” to resolve the lawsuit. J.P. Morgan JPM, -0.51% purchased Bear Stearns in 2008 during the financial crisis.

The lawyers in the letter asked the court to set a deadline of Feb. 2 for both sides to submit details of the plan and ask for the court’s preliminary approval.

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http://www.marketwatch.com/story/jp-morgan-to-pay-500-million-to-settle-lawsuit-2015-01-09-151035627

They purchased WAMU in 2008, are they paying off those claims as well...

GLTA