WASHINGTON - Mercer University in Macon, Ga., can continue to sue JPMorgan & Chase Co. to recover the $500,000 it paid to settle Internal Revenue Service yield-burning allegations over $48.4 million of 1991 revenue refunding bonds, a federal court ruled last week.

In a March 26 decision, the U.S. District Court for the Middle District of Georgia in Macon denied the bank's request for dismissal, setting the stage for the two sides to begin trading information in advance of a possible jury trial.

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