(Bloomberg) — A decade ago, Bear Stearns Cos. agreed to pay $250 million to resolve regulators' claims that it was at the center of a system that allowed clients to break mutual-fund trading rules.
JPMorgan Chase & Co., which acquired the company in 2008, is still trying to get insurers to foot part of the bill.
A New York state judge on Monday rejected a bid by a unit of Chubb Ltd. and other insurers to dismiss a suit filed by JPMorgan in 2009 seeking to force them to reimburse it for the claims. The ruling shows how companies are still dealing with a financial crisis that nearly toppled global markets in 2008, the same year Bear Stearns failed.
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