Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened? On March 16, 2008, Bear Stearns merged with JPMorgan Chase & Co. Where The Market Was The Dow finished the next day at 11,972.25. What Else Was Going On in The World? In 2008, U.S. property…
JPMorgan Wins Appeal Against Insurers Over Bear Stearns Settlement
NEW YORKâNew York’s highest court ruled on Tuesday that JPMorgan Chase & Co is entitled to insurance coverage for $140 million of a U.S. Securities and Exchange Commission settlement with the former Bear Stearns Cos over improper mutual fund trading. Reversing a lower court ruling, the Court of Appeals ruled 6-1 that the $140 million…
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