Judge Dismisses Investor Suit Alleging Banks Missed ‘Red Flags’ at Tricolor
A U.S. federal judge in Manhattan dismissed a lawsuit by investors who accused JPMorgan Chase, Barclays and Fifth Third of ignoring major warning signs tied to Tricolor, a subprime auto lender that later filed for liquidation. The suit, brought by holders of more than $270 million in Tricolor asset-backed notes, alleged that the banks enabled and b…