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Kokesh Defeats JPMorgan's $286M Coverage Award: NY Court

By Jeff Sistrunk ( September 20, 2018, 9:11 PM EDT) -- A New York appeals court on Thursday reversed an order requiring a group of insurers to pay J.P. Morgan Securities Inc. $286 million for settlement costs that Bear Stearns shelled out in a deal with the U.S. Securities and Exchange Commission, saying coverage is precluded based on the U.S. Supreme Court's 2017 ruling in Kokesh that disgorgement is a penalty....

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