Morning Scan: Hedge Fund Loses Big on JPMorgan Lawsuit Bet; Mortgage...

Wall Street Journal Hedge funds have been placing bets on how judges will rule in lawsuits stemming from bankruptcies or crisis-era dealings. At least one of those hedge funds, Appaloosa Management, lost big when a judge ruled in favor of JPMorgan Chase this week. Hedge funds bet by acquiring deeply discounted securities, such as corporate bonds, that are likely to increase in value if the judge rules their way. That didn't happen in the JPMorgan caseÂ...