Louisiana Insurer Seeks $10M in ARS Suit vs. JPM, Bear
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Wednesday, January 13, 2010 |
BRADENTON, Fla. The Louisiana Citizens Property Insurance Corp. is seeking more than $10 million in damages in a federal suit against JPMorgan and Bear, Stearns & Co. over failed auction-rate securities that the state-run, nonprofit insurer was forced to refinance.
