A group of large institutional investors led by BlackRock and Pimco are going after JPMorgan Chase & Co. over $95 billion of mortgage-backed securities. It is the first time the big investor group has formally indentified a target since reaching its contested $8.5 billion settlement withBank of America, the biggest legal settlement inWall Street history.

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That template, however, has been under attack by other investors in Bank of America’s soured MBS, like Seth Klarman’s massive hedge fund, Baupost. Other opponents include American International Group and New York Attorney General Eric Schneiderman. They have managed to delay judicial approval of the $8.5 billion Bank of America settlement, which is now stuck in federal court in Manhattan. Its future remains uncertain and might hinge on whether Patrick, Bank of America and Bank of New York Mellon can win an appeal of a decision that has removed the settlement from New York state court.

Full article here-http://www.forbes.com/sites/nathanvardi/2011/12/16/blackrock-led-group-goes-after-jpmorgan-with-mortgage-backed-securities-claims/