Law360, New York (June 8, 2016, 1:14 PM EDT) -- JPMorgan Chase & Co. can’t dodge accusations that Bear Stearns withheld vital information from MBIA Insurance Corp. about a mortgage-backed securities trust that went bust in the housing collapse, forcing the insurer to make $168 million in payments to investors, a New York state court said.Judge Alan D. Scheinkman on Monday rejected JPMorgan’s bid to dodge MBIA’s claim that Bear Stearns & Co. — the investment bank that failed in 2008 and was subsequently swallowed by JPMorgan — withheld information it was obligated to reveal to MBIA prior to the insurer’s decision to cover the trust. The banking giant failed... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
JP Morgan would face a claim , filed by MBIA , that the bank contained vital information that cost approximately $ 168 million that it had to make in payments to investors . A judge rejected JP bank 's attempt to dodge the fraud .