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RCT FILES $64 MILLION RMBS CLAIM AGAINST INVESTMENT BANKS

On April 2, 2014, RCT filed a $64 million petition in Travis County District Court on behalf of The Texas County and District Retirement System against numerous investment banks, including J.P. Morgan Securities, Merrill Lynch, and Morgan Stanley, which knowingly misrepresented residential mortgage-backed securities. The Texas County and District Retirement System is a multibillion-dollar governmental entity created by the Texas Legislature that serves more than 655 Texas county and district employers, ranging from sheriff’s offices to water and hospital districts.

Read Full Story: http://www.law360.com/texas/articles/526992/jpmorgan-citigroup-face-64m-investor-suit-over-rmbs-sales

Prior results do not guarantee a similar outcome