Bond insurer Syncora Guarantee Inc. cannot pursue claims in state court against JPMorgan Chase & Co. over faulty mortgage-backed securities because it already tried to bring similar claims over the same securities in federal court, a unanimous state appeals panel has ruled.
The Appellate Division, First Department, ruling on Tuesday in Syncora Guarantee v. JPMorgan Securities, 651566/11, reversed a May 2012 ruling by Manhattan Supreme Court Justice Charles Ramos (See Profile).
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