J.P. Morgan sued by New York's AG for alleged fraud in mortgage-backed securities: WSJ

SAN FRANCISCO (MarketWatch)
New York Attorney General Eric Schneiderman is suing J.P. Morgan Chase & Co.  in civil court alleging widespread fraud in the sale of mortgage-backed securities, The Wall Street Journal reported late Monday
The suit relates to mortgage-backed securities issued by Bear Stearns, which was acquired by J.P. Morgan in 2008 when the firm collapsed
The attorney general's office intends to follow up with similar actions against other sponsors and underwriters of mortgage-backed securities, the Journal reported, citing Schneiderman's office