JPMorgan Chase & Co. won a federal appeals court ruling that a $1.8 billion leveraged loan at issue in a court case was not a security, a victory for the banking and private equity industries. The decision Thursday by the Second Circuit US Court of Appeals in Manhattan came in a securities fraud lawsuit brought by a trustee for note purchasers in a 2014 syndicated loan deal led by JPMorgan. Soon after the notes began trading, the borrower, drug-testing company Millennium Health, ran into legal troubles and filed for bankruptcy the next year.

http://klse.i3investor.com/web/blog/detail/kianweiaritcles/2023-08-25-story-h-241864068-JPMorgan_wins_ruling_that_leveraged_loans_are_not_securities

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