Investors sue JPMorgan, BofA

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Trying recover losses on $4.5 bil of soured mortgage debt, two investment groups sued JPMorgan and Bank of America, expanding the litigation targeting the 2 largest U.S. banks. Sealink Funding said from 2005-07 it bought nearly $2.4 bil of residential mortgage-backed securities from JPMorgan and $1.6 bil from BofA, relying on offering materials that it claims were misleading. Another plaintiff, Landesbank Baden-Wurttemberg, raised similar claims in a separate suit.

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