JPMorgan,Citi or BOA sued for $948.8 mln by Sealink

Sealink Funding Ltd., an Ireland- based investment firm, filed many major banks, including JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp, over $949 million in residential mortgage-backed securities.

" The new case is over "securities they have not sued for in the past." New York attorney Joel H. Bernstein, who represents Sealink said.

The purchases were based on faulty offering materials, including misrepresentations of underwriting standards. It seeks damages or to have the purchases rescinded, as it is claimed.

The case is Sealink Funding Limited v. The Royal Bank of Scotland Group Plc, 650484/2012, New York state Supreme Court.