JPMorgan says Alabama county suit is "meritless"

Fri Nov 13, 2009 5:08pm EST
 
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BIRMINGHAM, Ala., Nov 13 (Reuters) - JPMorgan Chase (JPM.N) said a lawsuit filed on Friday by Alabama's Jefferson County over alleged fraud related to the accumulation of the county's massive sewer bond debt was "meritless".

"We believe the claims are meritless and intend to defend ourselves vigorously. Meanwhile, we continue to work to achieve a responsible restructuring of Jefferson County's financial affairs," said JPMorgan spokesman Joe Evangelisti in New York. (Writing by Matthew Bigg, editing by Jim Loney and Dan Grebler)

 

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