Mr Cooper Group Inc (COOP)

[NASCOW]

Is this investigation still ongoing from claims made in the Law suit?

Posted by: catman26 Date: Thursday, September 24, 2009 9:15:25 AM
In reply to: sparkydlr who wrote msg# 101088 Post # of 120240

By PEG BRICKLEY
Of DOW JONES DAILY BANKRUPTCY REVIEW

WILMINGTON, Del. -- A U.S. bankruptcy judge has authorized the former parent of failed savings and loan Washington Mutual Bank, or WaMu, to quiz JPMorgan Chase & Co. (JPM) over suspicions that JPMorgan Chase engineered the biggest banking collapse in U.S. history.

Judge Mary F. Walrath gave the green light to a special bankruptcy probe into JPMorgan's role in the events leading to WaMu's seizure by regulators in September 2008.

The probe will track claims made in a Texas lawsuit in which investors allege JPMorgan, "which had long coveted [WaMu's] depositor base and branch network, drove down [WaMu's] value so it could purchase [WaMu's] assets at a fire-sale price," Walrath said in an opinion filed Wednesday with the U.S. Bankruptcy Court in Wilmington, Del.

WaMu's parent said allegations of business wrongs that contributed to the thrift's seizure, if true, would give rise to "highly valuable" claims against JPMorgan.

IF YOU READ THE TEXAS LAWSUIT YOU WOULD KNOW....GLOBAL SETTLEMENT