Allstate Sues JPMorgan For Mortgage Backed Securities Fraud

jamie dimon

According to headlines from Bloomberg, insurance company Allstate is suing JPMorgan for mortgage-backed securities sales fraud.

Details are scarce, but this would obviously be consistent with a raft of lawsuits against banks from insurance companies happening right now. Generally they claim they were mislead somehow on the quality of MBS portfolios that the banks sold to them.

We’ll pub the complaint when availble.

Meanwhile, here’s the docket:



New York Supreme Court New York County
Docket for Case #: 650398/2011 

Allstate Bank v. JPMorgan Chase Bank, N.A.
Date Filed: Feb. 16, 2011 Status: Open

Parties and Attorneys Plaintiff Allstate Bank

Plaintiff Allstate Insurance Company

Plaintiff Allstate Life Insurance Company

Plaintiff Allstate New Jersey Insurance Company

Plaintiff Allstate Life Insurance Company of New York

Plaintiff Agents Pension Plan

Plaintiff Allstate Retirement Plan

Defendant JPMorgan Chase Bank, N.A.

Defendant J.P. Morgan Acquisition Corporation

Defendant J.P. Morgan Securities Inc.

Defendant J.Pm Morgan Acceptance Corporation I

Defendant WM Asset Holdings Corporation

Defendant WAMU Asset Acceptance Corporation

Defendant WAMU Capital Corporation

Defendant Washington Mutual Mortgage Securities Corporation

Defendant David Beck

Defendant Diane Novak

Defendant Thomas Lehmann

Defendant EMC Mortgage Corporation

Defendant Structured Asset Mortgage Investments II Inc.

Defendant Bear Sterns Asset Backed Securities I LLC

Defendant SACO I Inc.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at