A Japanese bank that filed eight lawsuits against multiple investment banks in 2013 over mortgage-backed securities saw one court victory last week, when a state appellate court allowed its case against JPMorgan Chase & Co. to proceed.
However, on the same day, the Appellate Division, First Department, ruled against the Japanese firm, Aozora Bank, in two other cases. Now, seven suits brought by Aozora have been dismissed or settled, as the bank’s financial crisis litigation in New York courts winds down.
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