NEW YORK, Feb 22 (Reuters) - JPMorgan Chase & Co.,
Citigroup Inc., Bank of America Corp. and more than a half dozen
other major banks are being hit with a new lawsuit over $949
million in residential mortgage-backed securities.
A summons was filed Tuesday by Sealink Funding Ltd, an
Irish entity that oversees risky RMBS, in New York state Supreme
Sealink has filed numerous other lawsuits against major
banks over billions in residential mortgage-backed securities it
New York attorney Joel H. Bernstein, who represents Sealink,
said the new case is over "securities they have not sued for in
Sealink claims the purchases were based on faulty offering
materials, including misrepresentations of underwriting
standards. It seeks damages or to have the purchases rescinded.
The case is Sealink Funding Limited v. The Royal Bank of
Scotland Group Plc, 650484/2012, New York state Supreme Court.
(Reporting by Karen Freifeld)
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