A federal judge in Manhattan handed a welcome victory to lawyers at Robbins Geller Rudman & Dowd this week, certifying a securities class action against JPMorgan Chase & Co. and rejecting the bank’s claims that Robbins Geller isn’t cut out to lead the 5-year-old case.
In a 44-page decision, U.S. District Judge J. Paul Oetken on Tuesday certified a class of roughly 1,800 investors who say JPMorgan duped them into investing in mortgage-backed securities with a face value of about $10 billion. Oetken also granted Robbins Geller’s bid to serve as class counsel, calling the firm well qualified for the role. JPMorgan had accused Robbins Geller attorneys of misrepresenting confidential witness testimony, “raising grave questions about their candor and diligence,” but Oetken didn’t seem particularly concerned.
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