Title
John Hancock Life Insurance Company (U.S.A.) et al v. JP Morgan Chase & Co / 850 Securities/Commodities
Date
April 23, 2012
State or Country
New York
County/City:
New York City
The Court the Case was filed in
USDC of the Sourthern District of New York (Foley Square)
Type of Case
850 Securities/Commodities
Case Number
1;12-cv-03184- RJS Case in other court: Supreme Court- New York County, 650195-12 Cause: 28:1441nr Notice of Removal
Judges
Judge Richard J. Sullivan
Plaintiff
John Hancock Life Insurance Company (U.S.A.)
John Hancock Life Insurance Company
(U.S.A.) Separate Account 6A
John Hancock Life Insurance Company
(U.S.A.) Separate Account 131
John Hancock Funds II
John Hancock Variable Insurance Trust
John Hancock Sovereign Bond Fund
John Hancock Bond Trust
John Hancock Strategic Series
John Hancock Income Securities Trust
Defendant
JP Morgan Chase & Co.
JPMorgan Chase Bank N.A
J.P. Morgan Mortgage Acquisitions Corp.
J.P. Morgan Securities, LLC
formerly known as
J.P. Morgan Securities Inc
J.P. Morgan Acceptance Corporation I
Chase Mortgage Finance Corporation
Chase Home Finance LLC
EMC Mortgage LLC
formerly known as
EMC Mortgage Corporation
Bear Stearns and Co., Inc.
Bear Stearns Asset Backed Securities I LLC
Structured Asset Mortgage Investments II Inc.
WAMU Asset Acceptance Corp.,
Washington Mutual Mortgage Securities Corp.
WAMU Capital Corp.,
Long Beach Securities Corp.
Banc of America Securities LLC
CSE Mortgage, LLC
Deutsche Bank Securities Inc.
John Barren
David Beck
Sara Bonesteel
Domenic A. Borriello
Richard Careaga
Jerome A. Cipponeri
Christine E. Cole
Craig S. Davis
Art Den-Heyer
Marangal I. Domingo
David M. Duzyk
Katherine Garniewski
Troy A. Gotschall
Patricia A. Jehle
Juliana C. Johnson
Rolland Jurgens
Joseph T. Jurkowski, Jr.
Michael D. Katz
William A. King
Marc R. Kittner
Michael J. Kula
Thomas G. Lehmann
Stephen Lobo
Richard D. Lodge
Kim Lutthans
Marc K. Malone
Thomas F. Marano
Jeffrey Mayer
Edwin F. McMichael
Samuel L. Molinaro, Jr.
Michael B. Nierenberg
Diane Novak
Michael L. Parker
Matthew E. Perkins
Louis Schioppo, Jr.
Jeffrey A. Sorense
Jeffrey L. Verschleiser
Thomas L. Wind
David H. Zielke
Greenwich Capital Markets, Inc.
also known as
RBS Greenwich Capital
Merrill Lynch & Co.
UBS Securities LLC
formerly known as
UBS Warbug LLC
Brian Bernard
Megan M. Davidson
Eric Ferren
Stephen Fortunato
Donald Wilhem
Merrill Lynch, Pierce, Fenner & Smith Inc.
JP Morgan Chase Bank, N.A
ThirdParty Defendant
Federal Deposit Insurance Corporation
Plaintiff Attorney
Plaintiff
John Hancock Life Insurance Company
(U.S.A.)
represented by Geoffrey Coyle Jarvis
Grant & Eisenhofer P.A. (NY)
485 Lexington Avenue
29th Floor
New York, NY 10017
(302-622-7040
Fax: (302)-622-7100
Email: gjarvis@gelaw.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Deborah A. Elman
Grant & Eisenhofer P.A. (NY)
485 Lexington Avenue
29th Floor
New York, NY 10017
(646) 722-8500
Fax: (646) 722-8501
Email: delman@gelaw.com
ATTORNEY TO BE NOTICED
Robert Daniel Gerson
Grant & Eisenhofer P.A. (NY)
485 Lexington Avenue
29th Floor
New York, NY 10017
(646)-722-8532
Fax: (646)-722-8501
Email: rgerson@gelaw.com
ATTORNEY TO BE NOTICED
Plaintiff
John Hancock Life Insurance Company
(U.S.A.) Separate Account 6A
represented by Geoffrey Coyle Jarvis
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Deborah A. Elman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Daniel Gerson
(See above for address)
ATTORNEY TO BE NOTICED
Plaintiff
John Hancock Life Insurance Company
(U.S.A.) Separate Account 131
represented by Geoffrey Coyle Jarvis
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Deborah A. Elman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Daniel Gerson
(See above for address)
ATTORNEY TO BE NOTICED
Plaintiff
John Hancock Funds II represented by Geoffrey Coyle Jarvis
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Deborah A. Elman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Daniel Gerson
(See above for address)
ATTORNEY TO BE NOTICED
Plaintiff
John Hancock Variable Insurance Trust represented by Geoffrey Coyle Jarvis
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Deborah A. Elman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Daniel Gerson
(See above for address)
ATTORNEY TO BE NOTICED
Plaintiff
John Hancock Sovereign Bond Fund represented by Geoffrey Coyle Jarvis
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Deborah A. Elman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Daniel Gerson
(See above for address)
ATTORNEY TO BE NOTICED
Plaintiff
John Hancock Bond Trust represented by Geoffrey Coyle Jarvis
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Deborah A. Elman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Daniel Gerson
(See above for address)
ATTORNEY TO BE NOTICED
Plaintiff
John Hancock Strategic Series represented by Geoffrey Coyle Jarvis
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Deborah A. Elman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Daniel Gerson
(See above for address)
ATTORNEY TO BE NOTICED
Plaintiff
John Hancock Income Securities Trust represented by Geoffrey Coyle Jarvis
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Deborah A. Elman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Daniel Gerson
(See above for address)
ATTORNEY TO BE NOTICED
ThirdParty Plaintiff
JP Morgan Chase Bank, N.A. represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Defendant Attorney
Defendant
JP Morgan Chase & Co. represented by Penny Shane , II
Sullivan and Cromwell, LLP(NYC)
125 Broad Street
New York, NY 10004
212-558-4837
Email: shanep@sullcrom.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
Sullivan & Cromwell, LLP(NYC)
125 Broad Street
New York, NY 10004
(212) 558-7353
Fax: (212) 291-9327
Email: cambriaa@sullcrom.com
TERMINATED: 05/29/2013
David Allen Castleman
Sullivan & Cromwell, LLP(NYC)
125 Broad Street
New York, NY 10004
(212) 558-4191
Fax: (212) 558-3588
Email: castlemand@sullcrom.com
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
Sullivan & Cromwell LLP (Los Angeles)
1888 Century Park East, Suite 2100
Los Angeles, CA 90067
(310)-712-6640
Fax: (310)-712-8800
Email: sacksr@sullcrom.com
ATTORNEY TO BE NOTICED
Defendant
JPMorgan Chase Bank N.A. represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
J.P. Morgan Mortgage Acquisitions Corp. represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
J.P. Morgan Securities, LLC
formerly known as
J.P. Morgan Securities Inc.
represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
J.P. Morgan Acceptance Corporation I represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Chase Mortgage Finance Corporation represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Chase Home Finance LLC represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
EMC Mortgage LLC
formerly known as
EMC Mortgage Corporation
represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Bear Stearns and Co., Inc. represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Bear Stearns Asset Backed Securities I
LLC
represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Structured Asset Mortgage Investments II
Inc.
represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
WAMU Asset Acceptance Corp., represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Washington Mutual Mortgage Securities
Corp.
represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
WAMU Capital Corp., represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Long Beach Securities Corp. represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Banc of America Securities LLC represented by Meredith Eve Kotler
Cleary Gottlieb Steen & Hamilton,
LLP(NYC)
One Liberty Plaza
New York, NY 10006
(212) 225-2000
Fax: (212) 225-3999
Email: mkotler@cgsh.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Defendant
CSE Mortgage, LLC represented by John E. Zummo
Howard and Howard Attorneys PLLC
200 S. Michigan Ave. Ste, 1100
Chicago, IL 60604
(312) 372-3425
Fax: (312) 939-5617
Email: jzummo@howardandhoward.com
PRO HAC VICE
ATTORNEY TO BE NOTICED
Michael John Tiffany
Leader & Berkon LLP
630 Third Avenue, 17th Floor
New York, NY 10017
212-486-2400
Email: mtiffany@leaderberkon.com
ATTORNEY TO BE NOTICED
Michelle Dianne Velasquez
Vedder Price P.C.
1633 Broadway
New York, NY 10019
(212) 407-7792
Fax: (212) 407-7799
Email: mvelasquez@vedderprice.com
TERMINATED: 05/10/2013
Defendant
Deutsche Bank Securities Inc. represented by Robert F. Serio
Gibson, Dunn & Crutcher, LLP (NY)
200 Park Avenue, 48th Floor
New York, NY 10166
212-351-3917
Fax: 212-351-5246
Email: rserio@gibsondunn.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Aric Hugo Wu
Gibson, Dunn & Crutcher, LLP (NY)
200 Park Avenue, 48th Floor
New York, NY 10166
(212) 351-3820
Fax: (212) 351-5344
Email: awu@gibsondunn.com
ATTORNEY TO BE NOTICED
Jonathan Brian Austin
Gibson, Dunn & Crutcher, LLP (NY)
200 Park Avenue, 48th Floor
New York, NY 10166
(212) 351-2638
Fax: (212) 351-6238
Email: jbaustin@gibsondunn.com
ATTORNEY TO BE NOTICED
Lawrence Jay Zweifach
Gibson, Dunn & Crutcher, LLP (NY)
200 Park Avenue
New York, NY 10166
(212) 351-4000
Fax: (212) 351-4035
Email: lzweifach@gibsondunn.com
ATTORNEY TO BE NOTICED
Defendant
John Barren represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
David Beck represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Sara Bonesteel represented by Joel Charles Haims
Morrison & Foerster LLP (NYC)
250 West 55th Street
New York, NY 10019
212-468-8000
Fax: 212-468-7900
Email: jhaims@mofo.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Andreea R Vasiliu
Morrison & Foerster LLP (NYC)
250 West 55th Street
New York, NY 10019
(212)-468-8000
Fax: (212)-468-7900
Email: avasiliu@mofo.com
ATTORNEY TO BE NOTICED
James Joseph Beha , II
Morrison & Foerster LLP (NYC)
250 West 55th Street
New York, NY 10019
(212) 468-8000
Fax: (212)-469-7900
Email: jbeha@mofo.com
ATTORNEY TO BE NOTICED
Lashann Moutique DeArcy
Morrison & Foerster LLP (NYC)
250 West 55th Street
New York, NY 10019
(212)-468-8000
Fax: (212)-468-7900
Email: ldearcy@mofo.com
ATTORNEY TO BE NOTICED
Defendant
Domenic A. Borriello represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Richard Careaga represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Jerome A. Cipponeri represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Christine E. Cole represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Craig S. Davis represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Art Den-Heyer represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Marangal I. Domingo represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
David M. Duzyk represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Katherine Garniewski represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Troy A. Gotschall represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Patricia A. Jehle represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Juliana C. Johnson represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Rolland Jurgens represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Joseph T. Jurkowski, Jr. represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Michael D. Katz represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
William A. King represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Marc R. Kittner represented by Joel Charles Haims
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Andreea R Vasiliu
(See above for address)
ATTORNEY TO BE NOTICED
James Joseph Beha , II
(See above for address)
ATTORNEY TO BE NOTICED
Lashann Moutique DeArcy
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Michael J. Kula represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Thomas G. Lehmann represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Stephen Lobo represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Richard D. Lodge represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Kim Lutthans represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Marc K. Malone represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Thomas F. Marano represented by Joel Charles Haims
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Andreea R Vasiliu
(See above for address)
ATTORNEY TO BE NOTICED
James Joseph Beha , II
(See above for address)
ATTORNEY TO BE NOTICED
Lashann Moutique DeArcy
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Jeffrey Mayer represented by Richard Aframe Edlin
Greenberg Traurig, LLP
200 Park Avenue
New York, NY 10166
212-801-9200
Fax: 212-805-5528
Email: edlinr@gtlaw.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Candace Marie Camarata
Greenberg Traurig, LLP (NYC)
200 Park Avenue
New York, NY 10166
(212)-801-2141
Fax: (212)-309-9541
Email: camaratac@gtlaw.com
TERMINATED: 11/12/2013
James Michael Barton
Greenberg Traurig, LLP (NY)
Met Life Building, 200 Park Avenue
New York, NY 10166
(212)-801-6954
Fax: (212)-801-6400
Email: bartonja@gtlaw.com
ATTORNEY TO BE NOTICED
Ronald Daniel Lefton
Greenberg Traurig, LLP (NYC)
200 Park Avenue
New York, NY 10166
2128013159
Fax: 2122246116
Email: leftonr@gtlaw.com
ATTORNEY TO BE NOTICED
Defendant
Edwin F. McMichael represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Samuel L. Molinaro, Jr. represented by Pamela Rogers Chepiga
Allen & Overy
1221 Avenue of Americas
New York, NY 10020
(212) 610-6300
Fax: (212) 610-6399
Email: pamela.chepiga@allenovery.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Josephine Alice Cheatham
Allen & Overy LLP
1221 Avenue of The Americas
New York, NY 10020
(212)-756-1102
Fax: (212)-610-6399
Email: allie.cheatham@allenovery.com
ATTORNEY TO BE NOTICED
Defendant
Michael B. Nierenberg represented by Joel Charles Haims
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Andreea R Vasiliu
(See above for address)
ATTORNEY TO BE NOTICED
James Joseph Beha , II
(See above for address)
ATTORNEY TO BE NOTICED
Lashann Moutique DeArcy
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Diane Novak represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Michael L. Parker represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Matthew E. Perkins represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Louis Schioppo, Jr. represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Jeffrey A. Sorense represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Jeffrey L. Verschleiser represented by Dani R. James
Kramer Levin Naftalis & Frankel, LLP
1177 Avenue of the Americas
New York, NY 10036
(212)-715-9363
Fax: (212)-715-8000
Email: djames@kramerlevin.com
ATTORNEY TO BE NOTICED
Jade Anne Burns
Kramer Levin Naftalis & Frankel, LLP
1177 Avenue of the Americas
New York, NY 10036
(212)-715-9209
Fax: (212)-715-8084
Email: jburns@kramerlevin.com
ATTORNEY TO BE NOTICED
Defendant
Thomas L. Wind represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
David H. Zielke represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Greenwich Capital Markets, Inc.
also known as
RBS Greenwich Capital
represented by Robert F. Serio
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Aric Hugo Wu
(See above for address)
ATTORNEY TO BE NOTICED
Jonathan Brian Austin
(See above for address)
ATTORNEY TO BE NOTICED
Lawrence Jay Zweifach
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Merrill Lynch & Co
Defendant
UBS Securities LLC
formerly known as
UBS Warbug LLC
represented by Lawrence Jay Zweifach
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Aric Hugo Wu
(See above for address)
ATTORNEY TO BE NOTICED
Jonathan Brian Austin
(See above for address)
ATTORNEY TO BE NOTICED
Robert F. Serio
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Brian Bernard represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Megan M. Davidson represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Eric Ferren represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Stephen Fortunato represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Donald Wilhem represented by Penny Shane , II
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Allison Joan Cambria
(See above for address)
TERMINATED: 05/29/2013
David Allen Castleman
(See above for address)
ATTORNEY TO BE NOTICED
Robert Andrew Sacks
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
Merrill Lynch, Pierce, Fenner & Smith
Inc.
represented by Meredith Eve Kotler
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
ThirdParty Defendant
Federal Deposit Insurance Corporation represented by Scott Hu Christensen
Hughes Hubbard & Reed LLP (DC)
1775 I Street, N.W., Suite 600
Washington, DC 20006
(202)-721-4644
Fax: (202)-721-4646
Email:
scott.christensen@hugheshubbard.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
William Robert Stein
Hughes Hubbard & Reed LLP (NY)
One Battery Park Plaza
New York, NY 10004
(202)721-4650
Fax: 2027214646
Email: stein@hugheshubbard.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Andrew J. Dober
Federal Deposit Insurance Corporation
3501 Fairfax Drive
Arlington, VA 22226
703-562-2545
Fax: 703-562-2481
PRO HAC VICE
ATTORNEY TO BE NOTICED
Thomas M. Clark
Federal Deposit Insurance Corporation
New York Legal Services Office
350 Fifth Avenue, Suite 1200
New York, NY 10118
(917)-320-2855
Fax: (917)-320-2917
Email: thclark@fdic.gov
ATTORNEY TO BE NOTICED
Comments
INTRODUCTION
Plaintiffs John Hancock Life Insurance Company (U.S.A.), John Hancock Life Insurance
Company (U.S.A.) Separate Account 6a; John Hancock Life Insurance Company (U.S.A.)
Separate Account 131; John Hancock Funds II; John Hancock Variable Insurance Trust; John
Hancock Sovereign Bond Fund; John Hancock Bond Trust; John Hancock Strategic Series; and
John Hancock Income Securities Trust (“Plaintiffs”), by their attorneys, Grant & Eisenhofer
P.A., bring this action pursuant to Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 (the
“Securities Act”), 15 U.S.C. §§77k, 771(a)(2), and 77o; and the common law. This action is
brought against Defendants JPMorgan Chase & Co. (“JPMorgan Chase”); J.P. Morgan Chase
Bank, N.A. (“JPMorgan Bank”); J.P. Morgan Mortgage Acquisition Corp. (“JPMM
Acquisition”); J.P. Morgan Securities, LLC (“JPMS”); J.P. Morgan Acceptance Corporation I
(“JPM Acceptance”); Chase Home Finance LLC (“Chase Home Finance”); Chase Mortgage
Finance Corporation (“Chase Mortgage Finance”)” EMC Mortgage LLC (“EMC”); Bear Stearns
& Co. Inc (“Bear Stearns”); Bear Stearns Asset Backed Securities I LLC (“BSABS”); Structured
Asset Mortgage Investments II Inc. (“SAMI”); WaMu Asset Acceptance Corp. (“WAAC”);
Washington Mutual Mortgage Securities Corp. (“WMMSC”); WaMu Capital Corp. (“WaMu
Capital”); Long Beach Securities Corp. (“LBSC”); Banc of America Securities LLC (“Banc of
America”); CSE Mortgage, LLC (“CSE Mortgage”); Deutsche Bank Securities Inc. (“Deutsche
Bank”); Greenwich Capital Markets, Inc. a.k.a. RBS Greenwich Capital (“GCM”); Merrill
Lynch & Co. “Merrill”); UBS Securities LLC f.k.a. UBS Warburg LLC (“UBS”); John Barren;
David Beck; Sara Bonesteel; Domenic A. Borriello; Richard Careaga; Jerome A. Cipponeri;
Christine E. Cole; Craig S. Davis; Art Den-Heyer; Marangal I. Domingo; David M. Duzyk;
Katherine Garniewski; Troy A. Gotschall; Patricia A. Jehle; Juliana C. Johnson; Rolland
Jurgens; Joseph T. Jurkowski, Jr.; Michael D. Katz; William A. King; Marc R. Kittner; Michael J. Kula; Thomas G. Lehmann; Stephen Lobo; Richard D. Lodge; Kim Lutthans; Marc K.
Malone; Thomas F. Marano; Jeffrey Mayer; Edwin F. McMichael; Samuel L. Molinaro, Jr.;
Michael B. Nierenberg; Diane Novak; Michael L. Parker; Matthew E. Perkins; Louis Schioppo,
Jr.; Jeffrey A. Sorensen; Jeffrey L. Verschleiser; Thomas L. Wind; David H. Zielke; Brian
Bernard; Megan M. Davidson; Eric Ferren; Stephen Fortunato; and Donald Wilhelm
(collectively, the “Defendants”).
Plaintiffs make the allegations in this Complaint based upon personal knowledge as to
matters concerning Plaintiffs and their own acts, and upon information and belief as to all other
matters. This information is derived from the investigation by Plaintiffs’ counsel, which has
included a review and analysis of annual reports and publicly filed documents, reports of
governmental investigations by the United States Securities and Exchange Commission (the
“SEC”), the Financial Crisis Inquiry Commission (the “FCIC”), the United States Department of
Justice (the “DOJ”), the United States Senate Permanent Subcommittee on Investigations (the
“PSI”), and numerous investigations by other federal and state governmental units, as well as
press releases, news articles, analysts’ statements, conference call transcripts and presentations,
and transcripts from speeches and remarks given by Defendants. In addition, Plaintiffs’ counsel
conferred with counsel for other Plaintiffs who have filed other complaints against these
Defendants based on the same or similar activities. Based on the foregoing, Plaintiffs believe
that substantial additional evidentiary support exists for the allegations herein, which Plaintiffs
will find after a reasonable opportunity for discovery.
SUMMARY OF ALLEGATIONS
1. This action arises out of Plaintiffs’ purchases of certain residential mortgagebacked securities (“RMBS”), as evidenced in the form of “Certificates”, in reliance on the false
and misleading statements that were made by Defendants. Based on these material misrepresentations and omissions, Plaintiffs purchased securities that were far riskier than had
been represented, backed by mortgage loans worth significantly less than had been represented,
and that had been made to borrowers who were much less creditworthy than had been
represented.
2. The securities purchased by Plaintiffs were collateralized against mortgages
originated and/or acquired by Defendants JPMorgan Bank, EMC, and non-defendants such as
Bear Stearns Residential Mortgage Corporation (“BSRMC”); Performance Credit Corp. f/k/a
Encore Credit Corp. (“Encore”); Long Beach Mortgage (“Long Beach”); and Washington
Mutual Bank (“WaMu Bank”), as well as various other third-party originators defined in ¶107
below (collectively the “Originators”).
3. These Originators did not, however, hold the mortgage loans they originated
and/or acquired. Rather, taking advantage of an unprecedented boom in the securitization
industry, these Originators flipped their mortgage loans to investment banks, which then
repackaged the loans and sold the loans as RMBS to investors seeking safe investments, such as
Plaintiffs. In the case of the loans underlying Plaintiffs’ Certificates, the entities that sold the
RMBS were JPMorgan Chase, Bear Stearns, WaMu and Long Beach. Specifically, each of these
entities pooled the mortgage loans made by the Originators; deposited the loans into special
purpose entities or “trusts”; and then repackaged the loans for sale to investors in the form of
RMBS. In nearly every case, an affiliate of JPMorgan Chase, Bear Stearns or WaMu was one of
the underwriters that prepared the Offering Documents and sold the RMBS to investors such as
Plaintiffs.
4. The Certificates entitled investors to receive monthly distributions of interest and
principal on cash flows from the mortgages held by the trusts. The Certificates issued by each
trust were divided into several classes (or “tranches”) that had different seniority, priorities of payment, exposure to default, and interest payment provisions. Rating agencies, such as DBRS,
Inc. (“DBRS”), Fitch, Inc. (“Fitch”), Moody’s Investors Service, Inc. (“Moody’s”), and Standard
& Poor’s Corporation (“S&P”),1
and/or rated the investment quality of all tranches of
Certificates based upon information provided by the Defendants about the quality of the
mortgages in each mortgage pool and the seniority of the Certificate among the various
Certificates issued by each trust. These ratings, in part, determined the price at which these
Certificates were offered to investors.
5. In selling the Certificates, the Defendants prepared and filed with the SEC certain
registration statements (the “Registration Statements”), prospectuses (the “Prospectuses”),
prospectus supplements (the “Prospectus Supplements”, and free writing prospectuses (the “Free
Writing Prospectuses”, and together with the Registration Statements, Prospectuses, and
Prospectus Supplements, the “Offering Documents”). In these Offering Documents, Defendants
repeatedly touted the strength of the Originators’ underwriting guidelines and standards; the fact
that the underwriting guidelines and standards were designed to ensure the ability of the
borrowers to repay the principal and interest on the underlying loans and the adequacy of the
collateral; and that the mortgages underlying the Certificates were originated in accordance with
those stated underwriting guidelines and standards. In addition, in the Offering Documents,
Defendants repeatedly assured investors as to the soundness of the appraisals used to arrive at the
value of the underlying properties and specifically represented that the real estate collateralizing
the loans had been subjected to objective and independent real estate appraisals that complied
with the Uniform Standards of Professional Appraisal Practice (“USPAP”) and, in some cases,
that they met the even more rigorous appraisal requirements of the Federal National Mortgage Association (“Fannie Mae) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”).
Defendants emphasized their quality control procedures such as re-underwriting of a random
selection of mortgage loans, conducting post-funding audits of origination files, and/or reverifying information to assure asset quality.
6. Defendants JPMorgan, Bear Stearns, WaMu, and Long Beach (as defined in ¶¶
33, 49, 71) were obligated to perform due diligence on the mortgage loans they acquired from
third parties. Defendants represented in the Offering Documents, which Plaintiffs relied on, that
they performed such due diligence and undertook certain quality control measures to ensure that
shoddily underwritten mortgages were not included in the Certificates they underwrote and sold.
See, e.g., Prospectus Supplement for WMALT Series 2006-9 Trust (Form 424B5), at S-29 (Oct.
27, 2006): “The sponsor’s credit risk oversight department conducts a credit, appraisal, and
compliance review of adverse samplings (and, in some cases, statistical samplings) of mortgage
loans prior to purchase from unaffiliated mortgage loan sellers.”
7. As set forth below, the Offering Documents contained material misstatements and
omitted material information. Contrary to Defendants’ assurances, the Originators of the
underlying loans had not followed their touted underwriting guidelines and standards when
originating and/or acquiring the mortgage loans. To the contrary, the Originators had engaged in
a wholesale and systematic abandonment of their underwriting guidelines, thereby granting
mortgage loans to borrowers who did not satisfy the eligibility criteria as described in the
Offering Documents. In addition, the mortgages underlying the Certificates had been extended
based on collateral appraisals that were not performed in accordance with USPAP or Fannie Mae
or Freddie Mac, so that the value of the underlying properties had been overstated, thereby
exposing investors such as Plaintiffs to additional losses in the event of foreclosure. Defendants did not apply rigorous quality control procedures to uncover these lapses, and when they learned
of such lapses, they deliberately overlooked them.
8. Defendants’ conduct with respect to mortgage-backed securities has also been
detailed in both the January 27, 2011, Final Report of the National Commission on the Causes of
the Financial and Economic Crisis in the United States (the “FCIC Report”) and the April 13,
2011, report issued by the PSI, chaired by Senator Carl Levin, entitled WALL STREET AND THE
FINANCIAL CRISIS: ANATOMY OF A FINANCIAL COLLAPSE (the “Levin Report”). Both reports and
their supporting testimony and exhibits have shed significant light on the extent to which
Defendants intentionally securitized bad mortgage loans and sold them to investors like
Plaintiffs. Numerous other investigations have been launched by the DOJ, the SEC, and various
state Attorneys General.
9. The practices of financial institutions such as JPMorgan, Bear Stearns, WaMu,
and Long Beach and their role in inflating the housing bubble have been and continue to be the
subject of intense regulatory scrutiny. On May 21, 2011, the WALL STREET JOURNAL reported
that New York State Attorney General Eric Schneiderman had requested informal meetings with
executives from several financial firms, including JPMorgan, as part of an investigation by his
office into mortgage practices and the packaging and sale of loans to investors.
10. On October 2, 2011, the NEW YORK TIMES reported that the New York Attorney
General rejected a proposed nationwide settlement worth more than $20 billion that would also
grant full immunity, from future prosecution, to financial institutions such as JPMorgan, Bear
Stearns, WaMu, and Long Beach, and their control persons. Attorney General Schneiderman
stated he believes that the losses caused by investment banks are far greater than the proposed
settlement amount and he is unwilling to release these financial institutions from liability
resulting from future investigations. The New York Attorney General’s office has since joined forces with Delaware Attorney General Beau Biden to “pursue a wider-ranging probe into Wall
Street's role in the mortgage meltdown,” and the attorneys general of Kentucky, Minnesota and
Nevada have expressed criticism of the proposed settlement—calling it weak and inappropriately
favorable to the banks.
11. On February 29, 2012, JPMorgan Chase announced that it is under investigation
and may face a civil suit by the SEC regarding whether the firm misled investors in offerings of
mortgage-backed securities. Specifically, the SEC has requested information relating to JP
Morgan’s due diligence and disclosures for certain mortgage-backed securities transactions, and
settlements of claims against the originators of loans that JPMorgan unit Bear Stearns Cos. Inc.
packaged into securities.
12. As a result of the untrue statements and omissions in the Offering Documents,
Plaintiffs purchased Certificates that were far riskier than represented and that were not
equivalent to other investments with the same credit ratings. As the truth regarding Defendants'
misrepresentations and omissions has come to light, the rating agencies have responded by
significantly downgrading the Certificates purchased by Plaintiffs. The Certificates, therefore,
are no longer marketable at anywhere near the purchase prices paid by Plaintiffs. As a
consequence, Plaintiffs have suffered losses on their purchases of the Certificates.
13. Defendants JPMorgan, Bear Stearns, WaMu, and Long Beach knew about the
poor quality of the loans they securitized and sold to investors like Plaintiffs, because in order to
continue to keep their scheme running, they completely vertically integrated their RMBS
operations by having affiliated entities at every stage of the process. In addition, Defendants
JPMorgan, Bear Stearns, WaMu, and Long Beach were aware of lending abuses on the part of
the third party originators they purchased loans from due to, inter alia, their financial ties to the
third party originators and their reviews of loan documentation and performance.
Too read more go to the links below - - Thank you for reading - please consider supporting us with a donation and or add a case that you feel is important for the public to know about.
Document Links 1 (Scribd et. al)
https://www.scribd.com/document/471816774/Docket-Michael-Nierenberg-Case-No-1-12-Cv-03184-RJS-SDNY-CM-ECF-NextGen-Version-1-2
Document Link 2
https://www.scribd.com/document/471816775/Exhibit-a-Case-1-12-Cv-03184-RJ-1-1%20
Document Link 3
https://www.scribd.com/document/471816780/Exhibit-B-Complaint-Case-1-12-Cv-03184-RJ-1-2
Document Link 4
https://www.scribd.com/document/471816778/Exhibit-C-Case-1-12-Cv-03184-RJ-1-3%20
Document Link 5
https://www.scribd.com/document/471816783/Exhibit-D-Case-1-12-Cv-03184-RJ-1-4%20
Judges Comments
Did the Judge harm many of the American public by not having a criminal investigation? The Judiciary is self policing and must turn in crimes that are brought to there attention.