Judge narrows Lehman $8. 6 billion lawsuit vs. JPMorgan
(Reuters) – A federal judge has narrowed Lehman Brothers Holdings Inc’s $8. 6 billion lawsuit against JPMorgan Chase & Co , potentially reducing how much creditors of what was once the fourth-largest U. S. investment bank may ultimately recover. U. S. Bankruptcy Judge James Peck in Manhattan said Lehman may not recover various sums transferred to JPMorgan, once its main “clearing” bank handling third-party dealings, in August and September 2008. Peck cited “safe harbor” rules designed to protect healthier banks such as JPMorgan in their dealings with weaker banks. . . .
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