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Virginia intervenes in $1.15 billion RMBS lawsuit filed by RCT

On September 16, 2014, the Commonwealth of Virginia formally intervened in a $1.15 billion suit filed by RCT on behalf of the relator, Integra REC LLC, against numerous investment banks, including J.P. Morgan Securities, Merrill Lynch, and Morgan Stanley, which knowingly misrepresented residential mortgage-backed securities purchased by the Virginia Retirement System.

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