Investors to object to proposed $4.5 bln JPMorgan settlement

NEW YORK: A group of funds that threw a monkey wrench in Bank of America Corp's proposed $8.5 billion settlement with investors in mortgage-backed securities will object to JPMorgan Chase & Co's $4.5 billion offer to settle claims over similar investments, according to the lawyer that represents them.

The funds, collateralized debt obligations known as the Triaxx entities, received court permission on Wednesday to intervene in a proceeding seeking judicial approval of the JPMorgan settlement, people close to the case said.