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8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 1/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 3 ba 01
XLG PH@ TPCPHT @G TPVGDP DB XVPTBXPMHVL @G TPVG DP BA LH[ W BVEA BVP [BVPM HIZNBWHHT +Dgqgn Cdpgbl Lb, 3?:7)dq):4;:3)OKEVHPGVH IH LP A XL @. Bl Fhmcna ba Gpthna cl`?Cnn Bpmhvt T gigncvnw Tgpxcph`.NCTT CDPGBL
Zncglpgaa.H D B L @ C I H L @ H @ D B I Z N C GL P A B VQGBNCPGBL BA « « 33. 36 CL@ 38 BA PMH
QT ,HDX VGPGHT CDP BA 3744
O,Z, IBVKC L DM CTH ! DB ,. hp cn, .
@hahl`clpt,}86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 2/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 6 ba 01
GLPVB@XDPGBL
3, Pmgt gt c thdx vgpght dnctt cdpgbl bl fhm cna ba cnn zhvtblt bv hlpgpght {mb c dsxgvh` pmh
Ibvpkckh Zctt)Pmvbxkm Dhvpgagdcpht -dbnnhdpgqhnw. pmh &Dhvpgagdcpht&' ba `hahl`clp O,Z, Ibvkcl
Cddhzpcldh Dbvzbvcpgbl G -&OZ Ibvkcl Cddhzpcldh&' zxvtxclp cl`"bv pvcdhcfnh pb c acnth cl`
igtnhc`glk Vhkgtpvcpgbl Tpcphihlp agnh` bl Icvdm 6;. 6::;. 3 cnblk {gpm acnth cl` igtnhc`glk
Zvbtzhdpxt Txzznhihlpt agnh` `xvglk Ahfvxcvw pmvbxkm Czvgn . 6::;. hcdm ba {mgdm {hvh h}zvhttnw
gldbvzbvcph` fw vhahvhldh glpb pmh V hkgtpvcpgbl T pcphihlp -dbnnhdpgqhnw. pmh &Baahvglk @ bdxi hlpt&',
Pmgt c dpgbl glqbnqht tbnhnw tpvgdp n gcfgng pw cl` lhkngkhldh dncgi t fvbxkmp zxvtxclp pb pmh T hdxvgp ght
Cdp ba 3744 -&3744 Cdp&',
6, Pmh D hvpgagdcpht {hvh gttxh`. xl`hv{vgpphl cl`"bv baahvh` abv tcnh fw pmh `hahl` clpt,
Pmh D hvpgagdcpht cvh thdxvgpght fcdeh` fw zbbnt ba vhtg`hlpgcn vhcn htpcph nbclt, @h ahl`clpt dcx th`
pmh Baahvglk @bdxihlpt pb dblpcgl icphvgcnnw acnth cl` igtnhc`glk tpcphihlpt cl` bigttgblt
dbldhvlglk pmh D hvpgagdcpht. cl` pmh nbclt xl `hvnwglk pmhi . gl qgbncpgbl ba pmh 3744 Cdp,
4, Gl txi icvw. `hahl`clpt i c`h pmh abn nb{glk acnth cl` i gtnhc`glk tpcphihlpt gl pmh
Baahv glk @bdxihlpt?
… Xl`hv{vgpglk tpcl`cv`t xth` pb bvgkglcph pmh nbclt txzzbvpglk pmh Dhvpgagdcpht
hqcnxcph` c zvbtzhdpgqh fbvvb{hv+t cfgngpw pb vhzcw pmh nbcl5
… Zvbzhvpw czzvcgthvt+ dbizhltcpgbl {ct lbp caahdph` fw {mhpmhv bv lbp c nbcl {ct
czzvbqh`5 czzvcgtcnt ba pmh zvbzhvpght xl`hvnwglk pmh nbclt {hvh fcth` bl vhdhlp
tcnht ba dbizcvcfnh zvbzhvpght5 cl` pmh czzvcgtcnt dblabvih` pb pmh Xlgabvi
Tpcl`cv`t ba Zvbahttgblcn C zzvcgtcn Zvcdp gdh -&XT ZC Z&' tpcl`cv`t5
… Pmh nbclt xl`hvnwglk pmh Dhvpgagdcpht mc` dhvpcgl. tzhdgagd. nbcl)pb)qcnxh -&NPQ&'vcpgbt5 cl`3Bl Czvgn 64. 6::;. `hahl`clpt agnh` cl Ci hl`h` V hkgtpvcpgbl Tpcphihlp cl` Z vbtzhdpxt bl
Abvi T)4"C, Vhahvhldht mhvhgl pb pmh &Vhkgtpvc p gbl Tpcphihlp& cvh pb pmh C zvgn 64. 6::; C ihl`h`Vh kgtpvcpgbl Tpcphi hlp,
)3)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 3/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 4 ba 01
… Pmh D hvpgagdcpht mc` &glqhtpih lp kvc`h& dvh`gp vcpglkt,
0 ,mh pvxh. icphvgcn acdpt. {mgdm `hahl`clpt bigpph` avbi pmh B aahvglk @bdxi hlpt.
{hvh pmcp?
… Fbvvb{hvt {hvh lbp hqcnxcph` bl pmhgv cfgngpw pb vhzcw pmh nbclt5 gltphc`. nbclt {hvhic `h vhkcv`nhtt ba c fbvvb{h v+t cfgngpw pb vhzcw5 nbcl bvgkglcpbvt ic `h ct i clwnbclt ct zbttgfnh vhkcv`nhtt ba vhzcwihlp cfgngpw tgldh pmhw {hvh thnnglk pmh nbclt pb`hahl`clpt cp c zvbagp5 gl c``gpgbl. fbvvb{hvt cl` nbcl bvgkglcpbvt {hvh vbxpglhnwglancpglk fbvvb{hvt+ gldbi ht pb acnthnw mgkm nhqhnt pb sxcngaw fbvvb{h vt abv nbcltpmhw dbxn` lbp caabv` pb vhzcw5
… Zvbzhv pw czzvcgthvt+ axpxvh dbi zhltcpgbl {ct dblpglkhlp xzbl zvbqg`glk nbclbvgkglcpbvt {gpm zvh`hphviglh`. glancph` zvbzhvpw czzvcgtcnt {mgdm cnnb{h` fbvvb{hv tpb sxcngaw abv nbclt5 gl c``gpgbl. czzvcgtcnt {hvh lb p fcth` bl vhdhlp tcnht ba
dbizcvcfnh zvbzhvpght5 cl` czzvcgtcnt `g` lbp dblabvi pb XTZCZ tpcl`cv`t5
… @bdxihlpt txfigpph` abv nbcl xl`hv{vgpglk dblpcglh` xlpvxh cl` acnth tpcphihlpt ‐zbphlpgcn fbvvb{hvt cl` nbcl bvgkglcpbvt glancph` fbvvb{hvt+ gldbiht cl` czzvcgthvttxfi gpph` acnthnw glancph` zvbzhvpw czzvcgtcnt5
… Fhdcxth pmh tzhdgagh` NPQ vcpgbt dblpcglh` gl pmh B aahvglk @bdxi hlpt {hvh fcth`bl glcddxvcph cl` glancph` zvbzhvpw czzvcgtcnt. pmh NP Q v cpgbt tzhdgagh` gl pmhBaahvglk @bdxihlpt {hvh acnth. glcddxvcph cl` xl`hvtpcph`5 cl`
… Pmh dvh`gp vcpglkt ba pmh Dhvpgagdcpht {hvh glcddxvcph cl` xl`hvtpcph` pmh glqhtpihlp
vgte cttbdgcph` {gpm pmh D hvpgagdcpht fhdcxth pmh vcpglkt ckhldght xth` bxp`cph`cttxizpgblt. bqhvnw vhnc}h` vcpglk dvgphvgc cl` glcddxvcph `cpc gl abvixncpglk pmhvcpglkt,
Pmh Pvxtpt [hvh F cdeh` fw Acxnpw Nbcltct c @gvhdp Vhtxnp ba pmh Bvgkglcpbvt+ Acgnxvh pbXpgngh pmh Xl`hv{vgpglk cl`"bv C zzvcgtcn Tpcl`cv`tVhahvhldh` gl pmh Baahvglk @bdxihlpt
8, Pmh cfbqh igtvhzvhthlpcpgblt cl` bigttgblt tzhdgagdcnnw gizcdph` pmh qcnxh ba pmh
Dhvpgagdcpht ct c tgklgagdclp lxifhv ba nbclt fcdeglk pmh Dhvpgagdcpht zxvdmcth` fw Nhc` Zncglpgaa cl`
pmh Dnctt dblpcglh` i gtvhzvhthlpcpgblt vhkcv`glk pmh fbvvb{hvt+ cfgngpw pb vhzcw pmh ibvpkckh cl`"bv
pmh zvbzhvpght+ czzvcgth` qcnxh. {mgdm {h vh c `gvhdp vhtx np ba pmh bvgkglcpbvt+ acgnxvh pb xpgngh pmh
xl`hv{vgpglk cl`"bv czzvcgtcn tpcl`cv`t vhahvhldh` gl pmh B aahvglk @ bdxih lpt, C vhqgh{ ba
`bdxi hlpcpgbl abv 1: nbclt fcdeglk Pvxtp 6::;)T 4. gldnx`glk glabvi cpgbl avbi pmh cpphl`clp
)6)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 4/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 0 ba 01
fbvvb{hvt {mgdm mcqh fhhl ic`h zxfngdnw cqcgncfnh zxvtxclp pb fclevxzpdw zvbdhh`glkt bv bpmhv
vhdbv`t. vhqhcnt pmcp {gpm vhtzhdp pb 0 4 ba pmbth 1: nbclt -bv ;3 (' lb czzcvhlp `hphviglcpgbl ct pb
{mhpmhv pmh fbvvb{hv dbxn` caabv` pb vhzcw mgt bv mhv nbcl bddxvvh`. dblpvcvw pb vhzvhthlpcpgblt gl
pmh Baahvglk @bdxihlpt, Hnhqhl ba pmhth 04 acxnpw nbclt {hvh bvgkglcph` fw Cihvgdcl Mbih
Ibvpkckh Dbvz, -&CMI&'. {mgdm bvgkglcph` czzvb}gicphnw 6;( ba pmh nbclt gl pmh Pvxtp, Pmgvpw)
p{b {hvh bvgkglcph` fw pmh D mcth bvgkglcpbvt {mgdm bvgkglcph` czzvb} gicphnw 8=( ba pmh nbclt gl pmh
Pvxtp,
1, Abv h} ci znh. c vhqgh{ ba t{bvl fcl evxzpdw agnglkt vhncph` pb pmh fbvvb{hv abv blh
nbcl bvgkglcph` fw CM I {mgdm {ct x pgn gh` pb fcde Pvxtp 6 ::;)84. vhqhcnt pmcp pmh fbvvb{hv. {mb
mc` lb tgklgagdclp ngsxg` ctthpt. vhzbvph` lb gldbih abv 6::; cl` blnw $6.07:,:: abv 6::=, Ga
CM I +t xl`hv{vgpglk {ct cdpxcnnw `htgklh` pb xl`hv{vgph c fbvvb{hvt+ dvh`gp{bvpmglhtt fcth` tbnhnw
bl glabvic pgbl pmcp C MI fhnghqh` pb fh gl`gdcpgqh ba pmh czzngdclpt cfgngpw pb vhzcw pmh `hfp. pmgt
nbcl {bxn` lbp mcqh fhhl czzvbqh` cl` axl`h`,
;, Tgigncvnw. c vhqgh{ ba t{bvl fclevxzpdw agnglkt vhncph` pb pmh fbvvb{hv abv blh nbcl
bvgkglcph` fw c dbvvhtzbl`hl p ba Dmcth { mgdm {ct xpgn gh` pb fcde Pvx tp 6::;)84. vhqhcnt pmcp pmh
fbvvb{hv. {mb mc` lb tgklgagdclp ngsxg` ctthpt. vhzbvph` lb hiznbwihlp bv fxtglhtt gldbih abv
6::1. 6::; cl` 6::=, Gl c``gpgbl pb pmh lhcvnw $0.7:: ibvpkckh zcwihlp. pmgt fbvvb{hv {ct cntb
vhsxgvh` pb iceh c iblpmnw dcv zcwihlp ba lhcvnw $3.4:: zhv iblpm, Ga pmh Dmcth Bvgkglcpbvt+
xl`hv{vgpglk tpcl`cv`t {hvh pvxnw `htgklh` pb `hphviglh {m hpmhv bv lbp pmh fbvvb{hv mc ` txaagdghlp
i blpmnw gldbih cqc gncfnh pb ihh p iblpmnw bfngkcpgblt bl pmh zvbzbth` nbcl cl` bpmhv h} zhltht. pmgt
nbcl {bxn` lbp mcqh fhhl czzvbqh` cl` axl`h`, Pmh dbl`xdp `htdvgfh` gl pmh zvhqgbxt p{b
zcvckvczmt { mgdm gizcd ph` pmh cfgngpw pb vhzcw pmh nbcl gl axnn gt gl`gdcpgqh ba pmh 0 4 acxnpw nbclt
`htdvgfh` cfbqh,
)4)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 5/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 8 ba 01
=, C vhqgh{ ba zvbzhvpw glabvicpgbl avbi 1: nbclt fcdeglk Pvxtp 6::;)T4. gldnx`glk pmh
cxpbicph` qcnxcpgbl ba pmh cpphl`clp zvbzhvpght. vhqhcnt pmcp 60 ba pmbth nbclt -bv 0:(' bqhvqcnxh`
pmh zvbzhvpw fw 7( bv i bvh. dbizcvh` pb pmh pvxh qcnxh ba pmh zvbzhvpw cp pmh pgih ba bvgkglcpgbl,
Pmgt bqhvqcnxcpgbl vhtxnph` gl cl xl`hvtpcph` N PQ vcpgb abv hcdm ba pmhth 6 0 nbclt,
Pmh Dhvpgagdcpht Zxvdmcth` f w Nhc` Z ncglpgaa cl` pmhDnctt Mcqh @hdnglh` gl Q cnxh ct c Vhtxnp ba pmh Baahvglk@bdxihlpt+ I gtvhzvhthlpcpgblt cl` Bi gttgblt
7, Pmh Dhvpgagdcpht tbn` pb Nhc ` Zncglpgaa cl` pmh Dnctt mc` c i xdm kvhcphv vgte zvbagnh
pmcl vhzvhthlph` gl pmh Baahvglk @ bdxi hlpt, Gltphc` ba fhglk dblthvqcpgqh &glqhtpihlp kvc`h&
zvb`xdpt ct `hahl`clpt vhzvhthlph` gl pmh Baahvglk @bdxihlpt. pmh Dhvpgagdcpht {hvh h}pvhihnw vgtew
glqhtpihlpt pmcp tmbxn` mc qh cdpxcnnw fhhl vcph` c t &oxle,&
3:, Pmh pvxpm cfbxp pmh zhvabvic ldh ba pmh ibvpkckh nbclt pmcp thdxvh` pmh Dhvpgagdcpht
txfthsxhlpnw {ct vhqhcnh` pb pmh zxfngd. `gtdnbtglk pmcp pmh Dhvpgagdcpht {hvh i xdm vgteghv pmcl
bvgkglcnnw vhzvhthlph` gl pmh Baahvglk @ bdxi hlpt. cl` pmcp mbn`hvt {bx n` ngehnw vhdhgqh nhtt cftbnxph
dctm anb{ gl pmh axpxvh cl` vhdh gqh gp bl cl xlpgihnw fctgt. ga cp cnn, Pmh dvh`gp vcpglk ckhldght cntb
xnpgicphnw zxp lhkcpgqh {cpdm ncfhnt bl pmh Dh vpgagdcpht cl` `b{lkvc`h` zvhq gbxtnw cttgklh` vcpglkt,
Cp zvhthlp. hcdm ba pmh Dh vpgagdcpht zncglpgaa fbxkmp mcqh fhhl `b{lkvc`h` avbi &CC C& glqhtpihlp
kvc`h cp pmh pgih ba zxvdmcth pb &DDD& oxle kvc`h glqhtpihlpt,
33, Ct c vhtxnp. pmh Dhvpgagdcpht cvh lb nblkhv icvehpcfnh cp zvgdht clw{mhvh lhcv pmh zvgdh
zcg` fw Nhc` Z ncglpgaa cl` pmh Dnctt. cl` pmh mbn`hvt ba pmh Dh vpgagdcpht cvh h} zbth` pb ixdm i bvh
vgte. {gpm vhtzhdp pb fbpm pmh pgiglk cl` cftbnxph dctm anb{ pb fh vhdhgqh`. pmcl pmh B aahvglk
@bdxi hlpt vhzvhthlph`,
36, Pmhvh gt c thdbl`cvw i cvehp abv pmh zxvdmcth cl` tcnh ba pmh Dhvpgagdcpht, Pmhvh mct
fhhl c i cvehp abv pmh vhtcnh ba glqhtpihlpt ngeh pmh D hvpgagdcpht tgldh cp nhctp 6::;, Pmh pvc`glk
qbnxih ba Dhvpgagdcpht ngeh pmbth cp gttxh {ct cp nhctp $;8: ignngbl `xvglk Icvdm ba 6::7. pmh pgih cp
)0)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 6/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 1 ba 01
{mgdm pmh agvtp ba pmh cdpgblt ctthvpglk pmh dncgit mhvhgl {ct agnh`, Gl c lbl)abvdh` tcnh gl pmh
thdbl`cvw i cvehp gl Icvdm ba 6::7. pmh p gih pmh agvtp nc{txgp cnnhkglk pmh {vblkaxn cdpgblt mhvhgl
{ct ag nh`. Nhc` Zncglpgaa cl` pmh D nctt {bxn` mcqh lhpph`. cp ibtp. 16 dhlpt bl pmh `bnncv, Gl bpmhv
{bv`t. c tcnh bl pmh `cph pmh agvtp nc{txgp {ct ag nh` { bxn` mcqh vhtxnph` gl c nbtt ba cp nhctp 4= dhlpt
bl hcdm `bnncv cibxlp zxvdmcth`,
OXVGT@GDPGBL CL@ Q HLXH
34, Pmh dncgit cnnhkh` mhvhgl cvgth xl`hv ««33. 36-c'-6' cl` 38 ba pmh 3744 Cdp. 38
X,T,D, ««;;e. ;;-3'-c'-6' cl` ;;:, Oxvgt`gdpgbl gt dblahvvh` fw «66 ba pmh 3744 Cdp. 38 X,T,D,
«;;q. cl` qhlx h gt zvbzhv zxvtxclp pb «66 ba pmh 3744 C dp,
30, Pmh qgbncpgblt ba nc{ dbizncglh` ba mhvhgl bddxvvh` gl pmgt @gtpvgdp. gldnx`glk pmh
`gtthiglcpgbl ba i cphvgcnnw acnth cl` i gtnhc`glk tpcphihlpt dbi zncglh` ba mhvhgl glpb pmgt @gtpvgdp ,
@ hahl`clpt dbl`x dp fxtglhtt gl pmgt @gtpvgdp,
ZCVPGHT
38, Nhc` Zncglpgaa Hiznbwhht+ Vhpgvhihlp Twtphi ba pmh Kbqhvlihlp ba pmh Qgvkgl
Gtncl`t -&XT Q G KHV T&' cdsxgvh` Dh vpgagdcpht zxvtxclp cl` pvcdhcfnh pb pmh V hkgtpvcpgbl Tpcphi hlp
cl` Z vbtzhdpxt Txzznhihlpt cl` mct fhhl ` cic kh` pmhvhfw, Tzhdga gdcn nw . bl Oxnw 3=. 6::=. Nhc`
Zncglpgaa zxvdmcth` 4.80:.8:= OZ Ibvkcl Ibvpkckh Pvxtp 6::;)84 Ibvpkckh Zctt)Pmvbxkm
Dhvpgagdcpht -&6::;)84 D hvpgagdcpht&' gl pvcldmh 3 C 3 cl` mct txaahvh` tgklgagdclp nbttht ct c vhtxnp ba
g pt pvcltcdpgblt gl 6::; )84 D hvpgagdcpht,
31, @hahl`clp O,Z, Ibvkcl Dmcth ! Db, -&OZ Ibvkcl&' gt c @hnc{cvh dbvzbvcpgbl {gpm
gpt zvgldgzcn h}hdxpgqh baagdh nbdcph` cp 6;: Zcve Cqhlxh. Lh{ Wbve. Lh{ Wbve 3::3;, Ct c
aglcldgcn gltpgpxpgbl {gpm h}phltgqh glqhtpi hlp fcleglk bzhvcpgblt. OZ Ib vkcl xl` hv{vgpht c {g`h
vclkh ba thdxvgpght cl` bpmhv aglcldgcn gltpvxihlpt. gldnx`glk ctthp)fcdeh` cl` ibvpkckh)vhncph`
thdxvgpght, OZ Ibvkcl b{lt cl`"bv dblpvbnt O,Z, Ibvkcl Cdsxgtgpgbl Dbvz, -&OZ Ibvkcl
)8)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 7/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh ; ba 01
Cdsx gtgpgbl&'. OZ I bvkcl C ddhzpcldh cl` O,Z, Ibvkcl Th dxvgpght. Gld, -&OZ I bvkcl Thdxvgpght&', OZ
Ibvkcl cdph` ct cl xl`hv{vgphv gl pmh tcnh ba pmh Dhvpgagdcph baahvglkt ngtph` gl ±6= fhnb{,
@hahl`clp OZ I bvkcl mhnzh` pb `vcap cl` `gtthiglcph pmh Baahv glk @bdxi hlpt,
3;, @hahl`clp OZ I bvkcl Thdxvg pght gt mhc`sxcvphvh` cp 6;: Zcve Cqhlxh . Lh{ W bve.
Lh{ Wbve 3::3;, OZ Ibvkcl Thdxvgpght cdph` ct cl xl`hv{vgphv gl pmh tcnh ba pmh Dhvpgagdcph
baahvglkt ngtph` gl ±6= fhnb{, @ hahl`clp OZ I bvkcl Thdx vgpght mhnzh` pb `vcap cl` `gtthi glcph pmh
Baahvglk @bdxihlpt,
3=, @h ahl`clp OZ I bvkcl C dsxgtgp gbl gt c @hnc{cvh dbvzbvcpgbl {gpm g pt zvgldgzcn zncdh
ba fxtglhtt nbdcph` cp 6;: Zcve Cqhlxh. Lh{ Wbve. Lh{ Wbve 3::3;, OZ Ibvkcl Cdsxgtgpgbl
zxvdmcth` pmh ibvpkckh nbclt pmcp xl`hvngh pmh Dhvpgagdcpht gttxh` fw pmh `hahl`clp OZ Ibvkcl
Gttxglk Pvxtpt avbi pmgv`)zcvpw nbcl bvgkglcpbvt, OZ Ibvkcl Cdsxgtgpgbl gt pmh &tzbltbv& ba pmh
Dhvpgagdcph baahvglkt cp gttxh gl pmgt cdpgbl cl` ic`h dhvpcgl vhzvhthlpcpgblt dbldhvlglk pmh nbclt
{gpmgl pmh P vxtpt cp gttxh mhvhgl,
37, @hahl`clp OZ Ibvkcl Cddhzpcldh gt c tzhdgcn zxvzbth @hnc{cvh dbvzbvcpgbl
mhc`sxcv phvh` cp 6;: Zcve C qhlxh. Lh{ W bve. Lh{ W bve 3::3;, OZ I bvkcl Cddhzpcldh a g nh` pmh
Vhkgtpvcpgbl Tpcphihlp cl` Zvbtzhdpxt. {mgdm cntb gldbvzbvcph` fw vhahvhldh pmh Zvbtzhdpxt
Txzznhihlpt gttxh` fw pmh `hahl`clp OZ Ibvkcl Gttxglk Pvxtpt, OZ Ibvkcl Cddhzpcldh {ct pmh
&`hzbtgpbv& gl pmh thdxvgpgcpgbl ba pmh OZ Ibvkcl Gttxglk Pvxtpt, OZ Ibvkcl Cddhzpcldh cl` pmh
fhnb{)ngtph` dbi ib l nc{ pvxtpt -pmh &Pvxtpt&' cvh cntb >txhvt& ba pmh Dhvpgagdcpht?
OZ I bvkcl Ibvpkckh Pvxtp 6::;)T6OZ I bvkcl Ibvpkckh Pvxtp 6::;)T4OZ Ibvkcl I bvpkckh Pvxtp 6::;)C4OZ Ibvkcl I bvpkckh Pvxtp 6::;)C0OZ I bvkcl Cnphvlcpgqh Nbcl P vxtp 6::;)T 3OZ I bvkcl Cnphvlcp gqh Nbcl P vxtp 6::;)C6OZ I bvkcl I bvpkckh Cdsxgtg pgbl Pvxtp 6::;)DM0OZ I bvkcl I bvpkckh Cdsxgtg pgbl Pvxtp 6::;)DM8OZ Ibvkcl I bvpkckh Pvxtp 6::;)C8
)1)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 8/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh = ba 01
OZ I bvkcl Ibvpkckh Pvxtp 6::;)C1OZ I bvkcl Ibvpkckh Cdsxgt gp gbl Pvxtp 6::;)DM 4
6:, @hahl`clp F v gcl F hvlcv` -&Fhvlcv`&' {ct pmh Zvhtg`hlp ba OZ I bvkcl Cddhzpcldh
`xvglk pmh vhnhqclp pgih zhvgb`, Fhvlcv` tgklh` pmh Czvgn 64. 6::; Vhkgtpvcpgbl Tpcphihlp,
63, @hahl`clp Nbxgt Tdmbzzgb Ov, -&Tdmbzzgb&' {ct Dblpvbnnhv cl` Dmgha Aglcldgcn
Baagdhv -&DAB&' ba OZ Ibvkcl Cddhzpcldh `xvglk pmh vhnhqclp pgih zhvgb`, Tdmbzzgb tgklh` pmh
C zvgn 64. 6::; V hkgtpvcpgbl Tpcphihlp,
66, @h ahl`clp Dmvgtpglh H, Dbnh -&Dbnh&' {ct c `gvhdpbv ba OZ I bvkcl Cddhzpcldh `xvglk
pmh vhnhqclp pgih zhvgb`, Dbnh tgklh` pmh Czvgn 64. 6::; Vhkgtpvcpgbl Tpcphihlp,
64, @hahl`clp @cqg` I, @xwe -&@xwe&' {ct c `gvhdpbv ba OZ Ibvkcl Cddhzpcldh
`xvglk pmh vhnhqclp pgih zhvgb`, @xwe tgklh` pmh Czvgn 64. 6::; Vhkgtpvcpgbl Tpcphihlp,
60, @hahl`clp [ gnn gci Eglk -&Eglk&' {ct c `gvhdpbv ba OZ I bvkcl Cddhzpcldh `xvglk
pmh vhnhqclp pgih zhvgb`, Eglk tgklh` pmh Czvgn 64. 6::; Vhkgtpvcpgbl Tpcphihlp,
68, @hahl`clp H`{gl A, IdIgdmchn -&IdIgdmchn&' {ct c `gvhdpbv ba OZ Ibvkcl
Cddhzpcldh `xvglk pmh vhnhqclp pgih zhvgb`, IdIgdmchn tgklh` pmh Czvgn 64. 6::; Vhkgtpvcpgbl
Tpcphihlp,
61, Pmh `hahl`clpt g`hlpgagh` gl ±±6:)68 cvh vhahvvh` pb mhvhgl ct pmh &Gl`gqg`xcn
@hahl`clpt,&
6;, Pmh th `hahl`c lpt cg`h` cl` cfh pph`. cl`"bv zcvpgdgzcph` {gpm cl`"bv dbltzgvh` {gpm
pmh bpmhv lcih` `hahl`clpt gl pmh {vblkaxn cdpt cl` dbxvth ba dbl`xdp bv bpmhv{gth dcxth` pmh
`ci ckht cl` gloxvght dncgih` m hvhgl cl` cvh vhtzbltgfnh gl tbih i cllhv abv pmh cdpt. bddxvvhldht
cl` hqh lpt cnnhkh` gl pmgt Dbi zncglp,
);)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 9/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 7 ba 01
DNCTT CDPGBL CNNHKCPGBLT
6=, Nhc` Zncglpgaa fvglkt pmgt dcth ct c dnctt cdpgbl zxvtxclp pb Vxnh 64 ba pmh Ah`hvcn
Vx nht ba D gqgn Zvbdh`x vh. bl fhmcna ba c dnctt dbltgtpglk ba cnn zhvtblt bv hlpgpght {mb c dsxgvh` pmh
abnnb{glk D hvpgagdcpht zxvtxc lp cl`"bv pvcdhcfnh pb pmh acnth cl` igtnhc`glk Vhkgtpvcpgbl Tpcphih lp
-Vhkgtpvcp gbl Tpcphihlp L b, 444)3031:;' cl` {m b {hvh `ci ckh` pmhvhfw -pmh &Dnctt&'?
I bvpkckh Z ctt)Pmvbxkm D hvp ga gdcpht. Thvght 6::;)86I bvpkckh Z ctt)Pmvbxkm D hvp ga gdcpht. Thvght 6::;)84Ibvpkckh Zctt)Pmvbxkm Dhvpgagdcpht. Thvght 6::;)C4I bvpkckh Z ctt)Pmvbxkm D hvp ga gdcpht. Thvght 6::;)C0I bvpkckh Z ctt)Pmvbxkm D hvp ga gdcpht. Thvght 6::;)83I bvpkckh Z ctt)Pmvbxkm D hvp ga gdcpht. Thvght 6::;)C 6
Ctthp)Fcdeh` Z ctt)Pmvbxkm Dh vp ga gdcpht. Thvght 6::;)DM 0Ctthp)Fcdeh` Z ctt)Pmvbxkm Dh vp ga gdcpht. Thvght 6::;)DM 8I bvpkckh Z ctt)Pmvbxkm D hvp ga gdcpht. Thvght 6::;)C 8I bvpkckh Z ctt)Pmvbxkm D hvp ga gdcpht. Thvght 6::;)C1Ctthp)Fcdeh` Z ctt)Pmvbxkm D hvp ga gdcpht. Thvght 6 ::;)DM4
67, H}dnx`h` avbi pmh Dnctt cvh `hahl`clpt. pmh baagdhvt cl` `gvhdpbvt ba pmh `hahl`clpt.
ih ifhvt ba pmhgv gii h`gcph acignght cl` pmhgv nhkcn vhzvhthlpcpgqh. mhgvt. txddhttbvt bv cttgklt. cl`
clw hlpgpw gl {mgdm `hahl `clpt mcq h bv mc` c dblpvbnnglk glphvhtp,
4:, Pmh ihifhvt ba pmh Dnctt cvh tb lxihvbxt pmcp obgl`hv ba cnn ihifhvt gt
gizvcdpgdcfnh, [ mgnh pmh h} cdp lxi fhv ba Dnctt i hi fhvt gt xlelb{l pb Nhc` Z ncglpgaa cp pmgt p gi h
cl` dcl blnw fh ctdhvpcglh` pmvbxkm czzvbzvgcph `gtdbqhvw. Nhc` Zncglpgaa fhnghqht pmcp pmhvh c vh. cp
nhctp . mxl`vh`t ba ihifhvt gl pmh zvbzbth` Dnctt, Vhdbv` b{lhvt cl` bpmhv ihifhvt ba pmh Dnctt
i cw fh g`hlpgagh` avbi vh dbv`t i cglpcglh` fw `hahl`clpt bv pmhgv pvcltahv ckhlpt cl` i cwfh lbpgagh`
ba pmh zhl`h ldw ba pmgt cdpgbl fw i cgn. xtglk pmh abvi ba lbpgdh tgigncv pb pmcp dxtpbi cvgnw xth` gl
thdxvgp ght dnctt cdpgblt, Pmh Vhkgtpvcpgbl T pcphihlp gttxh` fgnngblt ba `bnncvt {bvpm ba Dh vpgagdcpht,
43, Nhc` Zncglpgaa+t dncgit cvh pwzgdcn ba pmh dncgit ba pmh ihifhvt ba pmh Dnctt ct cnn
ihifhvt ba pmh Dnctt cvh tgigncvnw caahdph` fw `hahl`clpt+ {vblkaxn dbl`xdp gl qgbncpgbl ba pmh
ah`hvc n thdxvgpght nc{t dbizncglh` ba mhvh gl,
)=)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 10/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 3: ba 01
46, Nhc` Zncglpgaa {gnn acgvnw cl` c`hsxcphnw zvbphdp pmh glphvhtpt ba pmh ih ifhvt ba pmh
Dnctt cl` mct vhpcglh` dbxlth n dbizhphlp cl` h} zhvghldh` gl dnctt cdpgbl cl` thdxvgpght ngpgkcpgbl,
44, Dbiibl sxhtpgblt ba nc{ cl` acdp h}gtp ct pb cnn ihifhvt ba pmh Dnctt cl`
zvh`bi glcph bqhv clw sxhtpgblt tbnhnw caahdpglk gl`gqg`xcn ihi fhvt ba pmh D nctt, Ci blk pmh
sxhtpgblt ba nc{ cl` acdp dbi i bl pb pmh Dnctt cvh? {mhpmhv `hahl`clpt qgbncph` pmh 3744 Cdp5
{mhpmhv pmh Vhkgtpvcpgbl Tpcphihlp cl` Zvbtzhdpxt Txzznhihlpt gttxh` fw ` hahl`clpt pb pmh
glqhtpglk zxfngd lhkngkhlpnw bigpph` cl`"bv igtvhzvhthlph` icphvgcn acdpt cfbxp pmh Dhvpgagdcpht cl`
pmh xl`hvnwglk ibvpkckh nbclt dbizvgtglk pmh zbbnt5 pb {mcp h} phlp pmh ihi fhvt ba pmh D nctt mcqh
txtpcglh` `ci ckht5 cl` pmh zvbzhv ihctxvh ba `ci ckht,
40, C dnctt cdpgbl gt txzhvgbv pb cnn bpmhv cqcgncfnh i hpmb`t abv pmh acgv cl` haagdghlp
c`ox`gdcpgbl ba pmgt dblpvbqhvtw tgldh obgl`hv ba cnn ihi fhvt gt gizvcdpgdcfnh, Axvpmhvibvh . ct pmh
`cic kht txaahvh` fw gl`gqg`xcn Dnctt ihi fhvt icw fh vhncpgqhnw ticnn. pmh h}zhlth cl` fxv`h l ba
gl`gqg`xcn ngpgkcpgbl iceh gp gizbttgfnh abv ihifhvt ba pmh Dnctt pb gl`gqg`xcnnw vh`vhtt pmh {vblkt
`blh pb pmhi, Pmhvh {gnn fh lb `gaagdxnpw gl pmh iclckhihlp ba pmgt cdpgbl ct c dnctt cdpgbl,
NHC@ ZNC GLPGAA+T GLQHTPGKCPGBL
48, Nhc` Zncglpgaa cnnhkht pmh acdpt mhvhgl fcth` xzbl pmh glqhtpgkcpgbl ba Nhc` Zncglpgaa t
dbxlthn. {mgdm gldnx`h` c vhqgh{ ba Xlgph` Tpcpht Thdxvgpght cl` H}dmclkh Dbiigttgbl -&THD&'
agnglkt fw `hahl`clpt. ct {hnn ct vhkxncpbvw agnglkt cl` vhzbvpt. zxfngdnw cqcgncfnh nbcl
`bdxihlpcpgbl. thdxvgpght clcnwtpt vhzbvpt cl` c`qgtbvght cfbxp `hahl`clpt cl` pmh D hvpgagdcpht. cl`
i h`gc vhzbvpt cfbxp pmh `hahl`clpt. pmh D hvpga gdcpht cl` pmh nbcl bvgkglcpbvt cnnhkh` gl pmgt
Dbi zncglp, Nhc` Z ncglpgaa t dbxlthn mct cntb dbl`xdph` glphvqgh{t ba abvihv hi znbwhht ba cp nhctp
blh ba pmh `hahl`clpt. abvi hv hi znbwhht ba thqhvcn ba pmh nbcl bvgkglcpbvt cnnhkh` mhvhgl cl` bpmhvt
elb{nh`khcfnh cfbxp pmh icpphvt th p abvpm mhvhgl, Nh c` Z ncglpgaa fhnghqht pmcp txftpclpgcn c``gpgblcn
)7)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 11/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 33 ba 01
hqg`hlpgcvw txzzbvp {gnn h}gtp abv pmh cnnhkcpgblt thp abvpm mhvhgl caphv c vhc tblcfnh bzzbvpxlgpw abv
`gtdbqhvw,
FCDEKVBXL@
41, Pmh D hvpgagdcpht zvbqg`h pmh mbn`hvt cl b{lhvtm gz glphvhtp gl zvgldgzcn cl`"bv glphvhtp
zcwihlpt avbi qcvgbxt zbbnt ba vhtg`hlpgcn vhcn htpcph nbclt dblpcglh` {gpmgl pmh 33 Pvxtpt, Pmh
nbclt {gpmgl pmh Pvxtpt {hvh zxvdmcth` fw `hahl`clp OZ I bvkcl Cdsxgtgpgbl avbi qcvgbxt nbcl
bvgkglcpbvt cl` pmhl fxl`nh` pbkhpmhv. bv thdx vgpgh`, OZ I bvkcl C dsxgtgpgbl. cnblk {gpm ahnnb{
`hahl`c lp OZ Ibvkcl Cddhzpcldh . fxl`nh` pmh nbclt pbkhpmhv glpb pmh Pvxtpt cl` pmhl baahvh` pmh
Dhvpgagdcpht abv tcnh pb pmh zxfngd qgc pmh B aahvglk @bdxi hlpt,
4;, @h ahl`clpt dvhcph` pmh Baahvglk @bdxi hlpt gl dbllhdpgbl {gpm pmh tcnh ba pmh
Dhvpgagdcpht, Gl pmh Vhkgtpvcpgbl Tpcphihlp `hahl`clpt `gtdnbth` pmcp OZ Ibvkcl Cdsxgtgpgbl
cdsxgvh` nbclt abv pmh Pvxtpt `gvhdpnw bv gl`gvhdpnw avbi pmh nbcl bvgkglcpbvt, Gl dbllhdpgbl {gpm pmh
nbclt OZ Ibvkcl Cdsxgtgpgbl zxvdmcth` cl` {mgdm {hvh zxp glpb pmh Pvxtpt. `hahl`clpt g`hlpgagh` pmh
xl`hv{vgpglk kxg`hnglht zxvzbvph`nw xth` abv pmh nbclt OZ Ibvkcl Cdsxgtgpgbl zxvdmcth`. cl` gl
tbi h dctht. g`hlpgagh` tzhdgagd nbcl bvgkglcpbvt pmhw zxvdmcth` nbclt avbi cl` `h tdvgfh` pmbth
bvgkglcpbvt+ tzhdgagd xl`hv{vgpglk kxg`hnglht, Pmh B aahvglk @bdxi hlpt cntb `htdvgfh` pmh zvbzhvpw
czzvcgtcn zvcdpgdht x th` gl dbllhdpgbl {gpm pmh nbcl bvgkglcpgblt, Gl c``gpgbl. pmh B aahvglk
@bdx i hlpt vhzvhthlph` pmcp nbclt {gpmgl pmh Pvxtpt mc ` tzhdgagd NP Q vcpgbt cp bvgkglcpgbl, Pmh
Baahvglk @bdx ih lpt cntb tpcph` pmcp pmh D hvpgagdcpht mc` dhvpcgl &glqhtpihlp kvc`h& dvh`gp vcpglkt
avbi {h nn)elb{l -cl` pmhl {hnn)vhtzhdph`' vcpglk ckhldght, @hahl` clpt+ vhzvhthlpcpgblt cfbxp pmh
nbcl xl`hv{vgpglk tpcl`cv`t. czzvcgtcn zvcdpgdht. nbcl bvgkglcpgbl `bdxihlpt. N PQ vcpgbt. cl` dvh`gp
vcpglkt {hvh acnth cl` i gtnhc`glk. cl` bigpph` ic phvgcn glabvicpgbl cfbxp pmhth pbzgdt. ct thp abvpm gl
`hpcgn fhnb{,
)3:)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 12/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 36 ba 01
Vhtg`hlp gc n I bvpkckh Nbcl Dcphkbvght
4=, Pwzgdcnnw. fbvvb{hvt {mb vhsxgvh axl`t pb aglcldh pmh zxvdmcth ba c mbxth. bv pb
vhaglcldh cl h }gtpglk ibvpkckh. czznw abv vhtg`hlpgcn ibvpkckh nbclt { gpm c nbcl bvgkglcpbv, Nbcl
bvgkglcpbvt ctthtt c fbvvb{hv+t cfgngpw pb iceh zcwihlpt bl pmh ibvpkckh nbcl fcth` bl. ciblk
bpmhv pmglkt. pmh fbvvb{hv+t Acgv Gtccd ! Dbizclw -&AGDB&' dvh`gp tdbvh, Fbvvb{hvt {gpm mgkmhv
AGD B tdbvht cvh cfnh pb vhdhgqh nbclt {gpm nhtt `bdxi hlpcpgbl `xvglk pmh czzvbqcn zvbdhtt. ct {hnn
ct mgkmhv NPQ vcpgbt, Xtglk c zhvtbl+t AGDB tdbvh. c nbcl bvgkglcpbv ctthttht c fbvvb{hv+t vgte
zvbagnh pb `hphvi glh pmh glphvhtp vcph ba pmh nbcl pb gttxh. pmh cib xlp ba pmh nbcl. pmh NP Q vcpgb cl`
pmh khlhvcn tpvxdpxvh ba pmh nbcl,
47, C nbcl bvgkglcpbv {gnn gttxh c &zvgih& i bvpkckh nbcl pb c fbvvb{hv { mb mc t c mgkm
dvh`gp tdbvh cl` {mb dcl txzznw pmh vhsxgvh` `bdxihlpcpgbl hqg`hldglk pmhgv gldbih. ctthpt.
hi znbwih lp fcdekvbxl`. cl` bpmhv txzzbvpglk `bdxi hlpcpgbl ba pmhgv aglcldgcn mhcnpm, Fbvvb{ hvt
{mb cvh gttxh` &zvgih& i bvpkckh nbclt cvh `hhi h` pb fh pmh ibtp dvh`gp){bvpmw cl` vhdhgqh pmh fhtp
vcpht cl` tpvxdpxvh bl i bvpkckh nbclt,
0:, Ga c fbvvb{hv mc t pmh vhsxgvh` dvh` gp tdbvh abv c &zvgih& i bvpkckh nbcl. fxp gt xlcfnh
pb txzznw txzzbvpglk `bdxi hlpcpgbl ba mgt bv mhv aglcldgcn mhcnpm. pmhl c nbcl bvgkglcpbv {gnn gttxh
pmh fbvvb{hv c nbcl vh ahvvh` pb ct c &nb{ `bh& bv &Cnp)C& nbcl. cl` pmh glphvhtp vcph bl pmcp nbcl {gnn
fh mgkmhv pmcl pmcp ba c zvgih i bvpkckh nbcl, Gl c``gpgbl. pmh khlhvcn tpvxdpxvh ba pmh nbcl {gnn lbp
fh ct acqbvcfnh ct gp {bxn` fh abv c zvgih fbvvb{hv, [mgnh fbvvb{hvt ba nb{ `bh bv Cnp)C nbclt
pwzgdcnnw mcqh dnhcl dvh`gp mgtpbvght. pmh vgte zvbagnh ba pmh nb{ `bh bv Cnp)C nbcl gldvhctht fhdcxth
ba. ciblk bpmhv pmglkt. c mgkmhv NPQ vcpgb. c mgkmhv `hfp)pb)gldbih -&@PG&' vcpgb. bv glc`hsxcph
`bdxi hlpcpgbl ba pmh fbvvb{hv +t gldbih cl` c tthpt"vhthvqht,
03, C fbvvb{ hv {gnn fh dncttgagh` ct &txf)zvgih& ga pmh fbvvb{hv mct c nb{hv dvh`gp tdbvh
cl` mgkmhv `h fp vcpgbt, Fbvvb{h vt {mb m cqh nb{ dvh`gp vcpglkt cvh xlcfnh pb bfpcgl c dblqhlpgblcn
)33)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 13/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 34 ba 01
ibvpkckh fhdcxth pmhw cvh dbltg`hvh` pb mcqh c ncvkhv)pmcl)cqhvckh vgte ba `hacxnpglk bl c nbcl, Abv
pmgt vhctbl. nhl`glk gltpgpxpgblt baphl dmcvkh glphvhtp bl txf)zvgih ibvpkckht cp c vcph pmcp gt mgkmhv
pmcl c dblqhlpgblcn ibvpkckh gl bv`hv pb dbizhltcph abv cttxi glk ibvh vgte,
Pmh Thdbl`cvw I cvehp
06, Pvc`gpgblcnnw. pmh ib`hn abv c ibvpkckh nbcl glqbnqh` c nhl`glk gltpgpxpgbl -g,h,. pmh
nbcl bvgkglcpbv' h}phl`glk c nbcl pb c mbi h fxwhv gl h} dmclkh abv c zvbigttbvw lbph avbi pmh mbih
fxwhv pb vhzcw pmh zvgldgzcn cl` glphvhtp bl pmh nbcl, Pmh nbcl bvgkglcpbv cntb mhn` c nghl ckcgltp pmh
mbih ct dbnncphvcn gl pmh hqhlp pmh mbih fxwhv `hacxnph` bl pmh bfngkcpgbl, Xl`hv pmgt tgiznh ib`hn.
pmh nbcl bvgkglcpbv mhn` pmh zvbigttbvw lbph xlpgn gp icpxvh` cl` {ct h}zbth` pb pmh dbldbigpclp vgte
pmcp pmh fbvvb{hv i cw acgn pb vhzcw pmh nbcl, Ct txdm. xl`hv pmh pvc`gpgblcn ib`hn. pmh nbcl
bvgkglcpbv mc` c aglcldgcn gldhlpgqh pb hltxvh pmcp? -3' pmh fbvvb{hv mc` pmh aglcldgcn {mhvh{ gpmcn cl`
cfgngpw pb vhzcw pmh zvbigttbvw lbph5 cl` -6' pmh xl`hvnwglk zvbzhvpw mc` txaagdghlp qcnxh pb hlcfnh
pmh bvgkglcpbv pb vhdbqhv gpt zvgldgzcn cl` glphvhtp gl pmh hqhlp pmcp pmh fbvvb{h v `hacx nph` bl pmh
zvbigttbvw lbph cl` pmh zvbzhvpw {ct abvhdnbth`,
04, Fhkgllglk gl pmh 377:t. zhvtgtphlp nb{ glphvhtp vcpht cl` nb{ glancpgbl nh` pb c `hi cl`
abv i bvpkckht, Ct c vhtx np. fclet cl` bpmhv i bvpkckh nhl`glk gltpgpxpgblt pbbe c`qclpckh ba pmgt
bzzbvpxlgpw. glpvb`xdglk aglcldgcn gllbqcpgblt gl pmh abvi ba ctthp thdxvgpgcpgbl pb aglcldh cl
h} zcl`glk ibvpkckh i cvehp, Ct `gtdxtth` fh nb{. pmhth gllbqcpgblt cnphvh`? -3' pmh abvhkbglk
pvc`gpgblcn nhl`glk ib`hn. thqhvglk pmh pvc`gpgblcn `gvhdp ngle fhp{hhl fbvvb{hv cl` nhl`hv5 cl` -6'
pmh vgtet lbvicnnw cttbdgcph` {gpm ibvpkckh nbclt,
00, Xlngeh pmh pvc`gpgblcn nhl`glk ib`hn. cl ctt hp thdxvgpgcpgbl glqbnqht pmh tcnh cl `
thdxvgpgcpgbl ba ibvpkckht, Tzhdgagdcnnw. caphv c nbcl bvgkglcpbv gttxht c ibvpkckh pb c fbvvb{hv. pmh
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8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
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8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
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8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
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8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
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8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
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8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
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zvbagp. nbcl bvgkglcpbvt fhkcl nhl`glk iblh w pb lhcvnw clw blh ‐ hqhl pb zhbznh {gpmbxp pmh cfgngpw pb
vhzcw pmh nbclt ‐ gklbvglk pmhgv b{l tpcph` nhl`glk xl`h v{vgpglk kxg`hnglht,
14, Dblpvcvw pb pmh vhzvhthlpcpgblt gl pmh Vhkgtpvcpgbl Tpcphihlp cl` Zvbtzhdpxt
Txzznhihlpt. lhg pmhv `hahl`clpt OZ I bvkcl. OZ I bvkcl Thdxvg p ght . OZ I bvkcl Cdsxgtg pgbl bv OZ
Ib vkcl Cddhzpcldh. lbv pmh nbcl bvgkglcpbvt pmhw xth`. `hphvi glh` {mhpmhv fbvvb{hvt+ gldbih {ct
)3=)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 20/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 6: ba 01
txaagdghlp pb ihhp pmh nbcl zcwihlpt, Lbv `g` pmhw hqcnxcph pmh fbvvb{hvt+ cfgngpw pb vhzcw pmhgv
nbclt,
10, Gl`hh`. cp pmh pgih pmh nbclt {hvh bvgkglcph` cl` pvcltahvvh` pb pmh Pvxtpt. bvgkglcpbvt
ba i bvpkckht pmvbxkmbx p pmh mbi h nbcl gl`xtpvw {hvh lbp vhqgh{glk nbcl czzngdcpgblt gl bv`hv pb
`hphviglh {mhpmhv fbvvb{hvt mc` txaagdghlp gldbih pb ihhp pmhgv iblpmnw ibvpkckh bfngkcpgblt,
Vcpmhv. bvgkglcpbvt giznhihlph` zbngdght `htgklh` pb h}phl` ibvpkckht pb fbvvb{hvt vhkcv`nhtt ba
{mhpmhv pmhw {hvh cfnh pb ihhp pmhgv bfngkcpgblt xl`hv pmh ibvpkckh, Pmgt dbl`xdp vhtxnph` gl
bvgkglcpbvt?
-c ' Dbcdmglk fbvvb{hvt pb acnthnw glancph pmhgv gldbih bl nbcl czzngdcpgblt pb
czzhcv pb sxcngaw abv ibvpkckh nbclt pmh fbvvb{h vt dbxn` lbp caabv` pb vhzcw5
-f ' Acnthnw glancpglk c zvbtzhdpgqh fbvvb{hv+t gldbih pb sxc ngaw pmh fbvvb{hv abv c
nbcl mh bv tmh dbxn` lbp caabv` pb vhzcw5
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-` ' Hldbx vckglk fbvvb{hvt pb fbvvb{ i bvh pmcl pmhw dbxn` caabv` fw tx kkhtpglk
&tpcph` gldbih& nbclt ‐ nbclt bl {mgdm pmh fbvvb{h vt dbxn` tgiznw i ceh xz. bv &tpcph.& glancph`
gldbih t pmcp {bxn` lbp fh qhvgagh`5
-h ' C zzvbqglk fbvvb{hvt fcth` bl &phcthv vcpht& abv nbclt `htzgph elb{glk pmcp
pmh fbvvb{hv {bxn` lbp fh cfnh pb caabv` pmh zcwihlp {mhl pmh nbcl vcph c`oxtph`5 cl`
-a ' C nnb{glk lbl)sxcngawglk fbvvb{hvt pb fh czzvbqh` abv nbclt pmhw dbxn` lbp
caabv` xl`hv h}dhzpgblt pb pmh xl`hv{vgpglk tpcl`cv`t fcth` bl tb)dcnnh` &dbizhltcpglk acdpbvt&
{mh l txdm &dbi zhltcpglk acdpbvt& `g` lbp gl acdp h}gtp bv `g` lbp oxtpgaw pmh nbclt,
18, Ct c vhtxnp. fbvvb{hvt {mb {hvh vhsxgvh` pb txfigp gldbih glabvicpgbl vbxpglhnw
gldnx`h` gldbi h nhqhnt {mgdm {hvh acnthnw glancph` pb h}pvhi h nhqhnt vhncpgqh pb pmhgv tpcph` obf pgpnht
gl bv`hv pb khp pmh i bvpkckh nbclt czzvbqh` cl` axl`h` , [m gnh pmhw {h vh txddhttaxn gl bfpcglglk pmh
)37)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 21/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 63 ba 01
nbclt fw glancpglk pmhgv gldbiht. fbvvb{ hvt dbxn` lbp caabv` pb cd pxcnnw vhzcw pmh nbclt, Pmh ac nth
glancpgbl ba tpcph` gldbih {ct twtphicpgd cl` dbiiblzncdh ‐ c tpx`w dgph` fw Ibvpkckh Ctthp
Vhthcvdm Gltpgpxph abxl` pmcp cnibtp cnn tpcph`)gldbih nbclt h}ckkhvcph` pmh fbvvb{hv+t cdpxcn
gldbih fw cp nhctp 8(. cl` i bvh pmcl mcna gldvhcth` pmh ci bxlp fw i bvh pmcl 8: ( ,
11, Pmh bvgkglcpbvt+ fncpclp `gtvhkcv` abv pmhgv tpcph` x l`hv{vgpglk kxg`hnglht hldbxvckh`
pmgt pwzh ba gldbih glancpgbl, Abv gltpcldh. iclw tpcph` gldbih fbvvb{hvt {hvh cdpxcnnw {ckh
hcvlhvt {mb dbxn` mcqh tx zzngh` Abvi t [ )6 bv bpmhv gldbih)qhvgawglk `bdxi hlpcpgbl. fxp `g` lbp
cl` {hvh lbp vhsxgvh` pb, Gl c``gpgbl. lxihvbxt ibvpkckht pvcltahvvh` pb pmh Pvxtpt {hvh gttxh`
{gpmbxp vhsxgvglk pmh fbvvb{hvt pb h}hdxph c Abvi 08 :1 ‐ {mgdm {bxn` mcqh cn nb{h` pmh nhl`hv pb
cddhtt pmh fbvvb{hv+t pc} vhpxvlt avbi pmh Glphvlcn Vhqhlxh Thvqgdh -&GVT&' pb qhvgaw gldbih,
B vgkglcpbvt `g` lbp ` b pmgt hgpmhv,
@HAHL@CLPT+ ACN TH CL@ I GTNHC@GLK TPCPHI HLPT CL@ BIGTTGBLT
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1;, Pmh Czvgn 64. 6::; Vhkgtpvcpgbl Tpcphihlp gl`gdcph` pmcp pmh ibvpkckh nbclt {hvh
cdsxgvh` `gvhdpnw bv gl`gvhdpnw fw nbcl bvgkglcpbvt pmvbxkm pmh bv`glcvw dbxvth ba fxtglhtt cl` pmcp
pmcp i bvpkckh nbclt {h vh xl`h v{vgpphl gl cddbv`c ldh {gpm pmh vhncph` xl`hv{vgpglk dvgphvgc tzhdgagh`,
1=, Pmh V hkgtpvcpgbl Tpcphi hlp tpcph` pmcp pmh & Ux"l`hv{vgpglk tpcl`cv`t cvh czzngh` fw
bv bl f hmcna ba c nhl`hv pb hqcnxcph c fbvvb{hv+t dvh`gp tpcl`glk cl` vhzcwihlp cfgngpw& cl` pmcp
hqhl {gpm vhtzhdp pb &cnphvlcpgqh& thpt ba xl`hv{vgpglk dvgphvgc vhncpglk pb vh`xdh` bv ngigph`
`bdxi hlpcpgbl nbcl zvbkvci t pmcp pmh xl`hv{vgpglk abdxtht bl c `h i bltpvcpgbl ba &cl htpcfngtmh`
cfgngpw cl` {gnnglklhtt pb vhzcw pmh ibvpkckh nbclt gl c pgihnw actmgbl,&
17, Pmh Z vbtzhdpxt Txzznhihlpt abv hcdm ba pmh Pvxtpt cnnhkh` mhvhgl dblpcglh` g`hlpgdcn.
bv lhcvnw g`hlpgdcn . vhzvhthlpcpgblt ct thp abvpm gl ±1= cfbqh,
)6:)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 22/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 66 ba 01
;:, Pmh Z vbtzhdpxt Txzznhihlp abv pmh OZ Ibvkcl I bvpkckh Pvxtp 6::;)84 cntb thp abvpm
pmh nhl`glk kxg`hnglht xth` fw i xnpgznh bvgkglcpbvt ba pmh nbclt gl pmh Pvxtp, Nbcl bvgkglcpbv C MI +t
xl`hv{vgpglk kxg`hnglht {hvh `htdvgfh` ct abnnb{t? &Ci hvgdcl Mbih xl`hv{vg pht c fbvvb{hv + t
dvh` gp{ bvpmglhtt fcth` tbnhnw bl glabvi cpgbl pmcp Ci hvgdcl Mbi h fhnghqht gt gl`gdcpgqh ba pmh
czz n gdclp+t { g nn glklhtt cl` cf g ng pw pb z cw pmh ` hfp p mhw { bxn` fh gldxvvglk,& CMI bvgkglcph`
lhcvnw 6;( ba pmh nbclt gl pmh 6::;)84 P vxtp ,
;3, Pmh cfbqh vhzvhthlpcpgbl vhkcv`glk CMI+t xl`hv{vgpglk zvcdpgdht {ct vhzhcph` gl
pmh Zvbtzhdpxt Txzznhihlpt abv pmh OZ Ibvkcl Ibvpkckh Pvxtp 6::;)86, CMI {ct c icobv
bvgkglcpbv ba nbclt gl iclw ba pmh P vxtpt. mcqglk bvgkglcph` bqhv 4;( ba pmh nbclt gl pmh OZ I bvkcl
Ib vpkckh Pvxtp 6::;)86. lhcvnw 31( ba pmh nbclt gl pmh OZ Ibvkcl C nphvlcpgqh Nbcl P vxtp 6::;)83.
cl` bqhv 6:( ba pmh nbclt gl Zbbn 3 cl` lhcvnw 3=( ba pmh nbclt gl Zbbn C ba pmh OZ Ibvkcl
Cnphvlcpgqh Nbcl Pvxtp 6::;)C6 gl c``gpgbl pb pmh nbclt gl pmh 6::;)84 Pvxtp cnnhkh` cfbqh,
;6, Pmh Zvbtzhdpxt Txzznhihlp abv pmh OZ Ibvkcl Ibvpkckh Pvxtp 6::;)84 cntb
g`hlpgagh` D mcth B vgkglcpbvt ct nbcl bvgkglcpbvt cl` vhzvhthlph` pmcp &c `hphvi glcpgbl gt ic`h ct pb
{ mhpmhv pmh zvbtz hdpgqh fbvvb{ hv mct txaagdghlp iblpmnw gldbih cqcgncfnh pb ihhp pmh fbvvb{ hv+t
i blpmnw bfngkcpgblt bl pmh z vbz bth` nbcl cl` bpmhv h}zhltht vhncph` p b pmh vhtg`hldh -txdm ct
z vbz hvpw pc}ht cl` gltxvcldh' ct { hnn ct pb ihhp bp mhv aglcldgcn bfngkcpgblt cl` i blpmnw n gqglk
h}zhltht,& G`hlpgdcn bv lhcvnw g`hlpgdcn vhzvhthlpcpgblt {hvh i c`h dbldhvlglk pmh D mcth B vgkglcpbvt
gl pmh Zvbtzhdpxt Txzznhihlpt abv OZ Ibvkcl I bvpkckh Pvxtp 6::;)86. OZ Ibvkcl I bvpkckh Pvxtp
6::;)C4. OZ Ibvkcl I bvpkckh Pvxtp 6::;)C0 . OZ Ibvkcl Ibvpkckh Pvxtp 6::;)C8. cl` OZ I bvkcl
I bvpkckh Pvxtp 6::;)C1, Pmh D mcth B vgkglcpbvt {hvh i cobv bvgkglcpbvt ba iclw ba pmh nbclt gl pmh
Pvxtpt . gldnx`glk mcqglk bvgkglcph` bqhv 40 ( ba pmh nbclt gl OZ I bvkcl I bvpkckh Pvxtp 6::;)86 .
bqhv 8=( b a pmh nbclt gl OZ Ibvkcl I bvpkckh Pvxtp 6::;)84. lhcvnw 14( ba pmh nbclt gl OZ Ibvkcl
I bvpkckh Pvxtp 6::;)C4. czzvb}gicphnw 1=( ba pmh nbclt gl OZ I bvkcl Ibvpkckh Pvxtp 6::;)C0.
)63)86=447Rn
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 23/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 64 ba 01
bqhv 0;( ba pmh nbclt gl OZ Ibvkcl Ibvpkckh Pvxtp 6::;)C8. cl` bqhv 60( ba pmh nbclt gl OZ
I bvkcl Ibvpkckh Pvxtp 6::;)C1,
;4, Pmh Zvbtzhdpxt Txzznhihlpt abv pmh OZ Ibvkcl Cdsxgtgpgbl Pvxtp 6::;)DM4. OZ
I bvkcl Cdsxgtgp gbl Pvxtp 6::;)D M0 cl` OZ I bvkcl Cdsxgtg pgbl Pvxtp 6::;)DM8 cn n g`hlp gaw OZ
Ibvkcl D mcth F cle ct pmh nbcl bvgkglcpbv abv 3::( ba pmh nbclt gl pmbth Pvxtpt cl` vhzvhthlph` pmcp
pmh xl`hv{vgphvt &pceh glpb dbltg`hvcpgbl pmh dvh`gp tpcl`glk cl` vhzcwihlp cfgngpw ba pmh
zvbtzhdp gqh fbvvb{hv,&
;0, Pmh Z vbtzhdpxt Txzznhihlp abv pmh OZ Ibvkcl I bvpkckh Pvxtp 6::;)C 8 cntb thp abvpm
pmh xl`hv{vgpglk kxg`hnglht abv ZM M I bvpkckh Dbvzbvcpgbl -&ZM M&' ct abnnb{t? &ZMMIbvpkckh + t
xl`hv{vgpglk kxg`hnglht cvh czzngh` pb hqcnxcph cl czzngdclp+t dvh`gp tpcl`glk. aglcldgcn
dbl`gpgbl. cl` vhzcwihlp cfgngpw ,,,,& ZMM bvgkglcph` bqhv 44( ba pmh nbclt gl pmh 6::;)C8
Pvxtp,
;8, Pmh tcih t pcl`cv`t {hvh thp abv pm gl pmh Zvbtzhdpxt Tx zznhihlp abv pmh OZ I bvkcl
I bvpkckh Pvxtp 6::;)C 1 {gpm vhtzhdp pb pmh lhcvnw 4:( ba nbcl bvgkglcpgblt ZM M { ct vhtzbltgfnh
abv gl pmcp Pvxtp,
;1, Pmh Z vbtzhdpxt Txzznhihlp abv pmh OZ Ibvkcl I bvpkckh Pvxtp 6::;)C1 vhzvhthlph`
pmcp clbpmhv nbcl bvgkglcpbv. Lcpgblcn Dgpw Ibvpkckh Db,+t -&Lcpgblcn Dgpw&'. &xl`hv{vg p glk
t pcl`cv`t cvh czz n gh` pb hqcnxcph pmh zvbtzhd p gqh fbvv b{ hv +t dvh`g p t pcl`glk cl` vhz cwi hlp
cfgngpw,& Lcpgblcn Dgpw bvgkglcph` czzvb}gicphnw 4 ( ba pmh nbclt gl pmh 6::;)C1 Pvxtp,
;;, Pmh abvhkbglk tpcphihlpt {hvh acnth cl` igtnhc`glk, Pmh nbcl bvgkglcpbvt `g` lbp
i ceh nbclt fcth` bl {mhpmhv c fbvvb{hv+t iblpmnw gldbih {c t txaagdghlp pb vhzcw pmh nbcl, Vcpmh v.
pmh bvgkglcpbvt i c`h ct i clw nbclt ct zbttgfnh vhkcv`nhtt ba pmh fbvvb{hv+t cfgngpw pb vhzcw pmh nbcl,
)66)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 24/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 60 ba 01
Ci h v gd c l M b i h I b v pkc kh D b v z
;=, Pmh vhzvhthlpcpgbl gl pmh Baahvglk @bdxi hlpt abv Pvxtp 6::;)84 pmcp CM I hqc nxcph`
c &fbvvb{hv+t dvh`gp{bvpmglhtt fcth` tbnhnw bl glabvicpgbl pmcp Cihvgdcl Mbih fhnghqht gt
gl`gdcpgqh ba pmh czzngdclp+t {gnnglklhtt cl` cfgngpw pb zcw pmh `hfp pmhw {bxn` fh gldxvvglk& {ct
acnth cl` igtnhc`glk fhdcxth CMI {ct nhl`glk pb clwblh pmcp gp dbxn` vhkcv`nhtt ba c fbvvb{hv+t
cfgng pw pb vhzcw pmh nbcl, Cddbv`glk pb c abvi hv @ gtpvgdp Iclckhv. hi znbwhht vhtzbltgfnh abv thnn glk
nbclt {hvh pbn` pb gklbvh pmh gttxht {mgdm tmbxn` lbp fh gklbvh`. txdm ct c fbvvb{hv+t cfgngpw pb
vhzcw. cl` ox tp thnn pmh nbcl zvbkvcit,
;7, Gl bv`hv pb cdmghqh pmh qbnxi h ba `htgvh` nbcl zvb`xdpgbl. CM I {ct ct c i cpphv ba
dbxvth iceglk nbclt hqhl {mhvh &dbizhltcpglk acdpbvt.& {mgdm {bxn` cnnb{ h}dhzpgblt pb pmh
xl`hv{vgpglk tpcl`cv` t. `g` lbp h} gtp, CM I vbx pglhnw acfvgdcph` &dbizh ltcpglk acdpbvt& zxvzbvph`nw
oxtpgawglk nbclt hqhl { mhl txdm acdpbvt {hvh lbp zvhthlp fhdcxth CM I +t fxtglhtt vhngh` bl i ceglk
c ncvkh lxifhv ba nbclt. hcvlglk ahht abv hcdm nbcl {mhl pvcltahvvglk pmhi gl pmh thdxvgpgcpgbl
zvbdhtt,
=:, Cddbv`glk pb c abvihv CMI H}hdxpgqh Qgdh Zvhtg`hlp {mb {bveh` cp pmh Dbizclw
avbi 3777 pmvbxkm C zvgn ba 6::;. CM I+t xl`hv{ vgpglk zvcdpgdht fhdci h gldvhctglknw nc} `xvglk pmh
6::8 pmvbx km 6::; pgihavci h, Pmgt vhtxnph` gl CM I kvclpglk c ncvkhv cl` ncvkhv lxifhv ba nbclt pb
zhbznh xlngehnw pb vhzcw pmhi, Cddbv` glk pb pmgt Q gdh Zvhtg`hlp. CM I &abnnb{h` D bxlpvw{g`h& gl
baahvglk &actp cl` tnhcw zvb`xdpt& pmcp mc` qhvw sx htpgblcfnh xl`h v{vgpglk vhsxgvhih lpt cl` {hvh
ba nb{ sxcng pw , C abvihv [ mbnhtcnh Cddbxlp H} hdxp gqh. {mb {bveh` cp CM I avbi Oclxcvw 6::8
pmvbxkm Oxnw 6::;. tpcph` pmcp cp CM I &clwfb`w dbxn` fxw c mbx th {gpm hvb zhvdhlp `b{l cl` lb
zv bba ba cfgngpw p b zcw gp Upmh nbclY fcde,& Cddbv`glk pb pmgt zhvtbl. CMI vhkxncvnw h} phl`h` nbclt
pmcp cvh lb{ dncttgagh` ct zvh`cpbvw,
)64)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 25/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 68 ba 01
=3, C`` gpgblcnnw . c abvihv N hqhn 8 Xl`hv{vg phv . {mb {bveh` cp CM I avbi 6::0 xlp gn
@hdhifhv 6::1. pmh zvbahttgblcn ox`kihlp ba CMI+t xl`hv{vgphvt {ct baphl bqhvvg``hl fw
cxpbicph` xl`hv{vgpglk tbap{cvh, Pmgt zhvtbl zbglph` pb c lxifhv ba gltpcldht {mhvh pmh
cxpbic ph` zvbkvci czzvbqh` nbclt pmcp i c`h lb aglcldgcn thlth cl` {hvh lbp ngehnw pb fh zcg` fcde,
@htzgph pmhth igtkgqglkt. CMI iclckhihlp bqhvvxnh` pmh Xl`hv{vgphv+t mxicl ox`kihlp cl`
czzvbqh` pmh vgtew nbclt, Pmgt tgpxcpgbl dcxth` pmh Xl`hv{vgphv pb &nbth vhtzhdp& abv CMI. {mb
fhnghqh` pmh xl `hv{vgphv +t vbnh { ct pb nbbe cp pmh pbpcng pw b a pmh glabvi cpgbl gl pmh nbcl czzngdcpgbl
cl` cte &@ bht g p agp2& cl` &Gt g p nbkgdcn2& Pmh Xl` hv{vgphv tcg` pmcp iclw ba pmh nbclt czzvbqh` fw
pmh xl`hv{vgpglk tbap{cvh {hvh blht bl {mgdm pmh Xl`hv{vgphv &{bxn` lbp mcqh nhlp c `gih,&
=6, CMI+t acgnxvh pb dbiznw {gpm tpcph` xl`hv{vgpglk zvcdpgdht {ct dblagvih` fw c
abvihv Nhqhn 4 Xl`hv{vgphv {mb {bveh` cp CMI avbi Oxlh 6::0 pb Cxkxtp 6::;, Cddbv`glk pb
pmgt Xl`hv{vgphv. pmh cx pbicph` x l`hv{vgpglk tbap{cvh czzvbqh` &c{ax n nbclt& pmcp {bxn` lbp m cqh
fhhl czzvbqh` xl`hv CM I +t iclxcn xl`hv{vg p glk kxg`hnglht,
=4, CMI+t fxtglhtt {ct ̀ hzhl`hlp bl dblpglxcnnw gldvhctglk qbnxih, C pmgv` ba gpt
ibvpkckht {hvh zcw )bzpgbl c`oxtpcfnh vcph ibvpkckht -&CV I t&'. {mgdm cnnb{h` fbvvb{hvt pb ic eh
zcwihlpt {mgdm {hvh nhtt pmcl pmh glphvhtp ci bxlp cddvxglk bl pmh nbcl. vhtxnpglk gl pmh `gaahvhldh
fhglk c``h` pb pmh zvgldgzcn fcncldh hcdm iblpm, CMI kvclph` h}dhzpgblt ct c icpphv ba dbxvth
fhdcxth gpt fxtglhtt vhngh` bl qbnxih ct gp {ct zcg` c ahh abv hcdm nbcl cl` gp {ct pvcltahvvglk
thdxvgp gcpgbl ba pmhth i bvpkckht cl` lbp vhpcglglk pmh ibvpkckh nbclt ct ctthpt bl gpt b{l fcncldh
tmhhp, CMI {hlp fclevxzp gl Cxkxtp 6::;,
=0, Gp mct txfthsxhlpnw dbih pb n gkmp pmcp CM I +t nbcl zvbkvcit { hvh qhvw sx htpgblcfnh
cl` vgtew. cl` pmh xl`hv{vgpglk tpcl`cv`t {hvh dbiihltxvcphnw nc}, Cddbv`glk pb blh CMI
@gtpvgdp Iclckhv. pmh nbcl zbbnt tbn` pb `hahl`clpt cl` bpmhv [cnn Tpvhhp fclet {hvh ic`h xz ba
)60)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 26/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 61 ba 01
&lbpmglk fxp oxle,& Iclckhvt { hvh &pbn` pb gklbvh pmh gttxht {mgdm tmb xn` lbp fh gklbvh`. txdm ct
pmh fbvvb{h v+t cfgngpw pb vhzcw. cl` oxtp thnn pmhth zvbkvci t,&
=8, CM I { ct c i bvpkckh fclehv pmcp xth` gpt nglh ba dvh`gp pb axl` vhtg`hlpgcn i bvpkckh
nbclt. dvhcph c nbcl zbbn. cl` pmh l. pb vhznhlgtm gpt axl` t. thnn pmh nbclt gl fxne. ct tbbl ct zb ttgfnh.
pb &glqhtpbvt,& Pmh glqhtpbvt {hvh [cnn Tpvhhp agvit. gldnx`glk `hahl`clpt. pmcp tbxkmp pmh nbcl
zbbnt ct dbnncphvcn abv pmh D hvpgagdcpht cp gttxh mhvhgl, [ cnn Tpvhhp agvi t. gldnx`glk pmh `hah l`clpt.
glgpgcph` pmh nhl`glk zvbdhtt fw `htgklglk cl` `hngqhvglk nbcl zvbkvcit pb CMI {mgdm `g` lbp
dbiznw {gpm pmh xl`hv{vgpglk tpcl`cv`t thp abvpm gl pmh Baahvglk @bdxihlpt, Pmh qbnxih ba
fxtglhtt {ct qhvw ncvkh cl` gl pmh 6::1 pgihavcih. CMI {ct axl`glk ibvpkckht cibxlpglk pb
cfbxp $8 fgnngbl zhv i blpm,
=1, CMI tcnht vhzvhthlpcpgqht {bxn` dblpcdp nbcl fvbehvt -cl` bpmhvt {mb acdgngpcph`
nbclt abv fbvvb{hvt' cl` {bx n` cvvclkh {gpm pmh nbcl fvbehvt pb baahv {mcphqhv nbcl zvbkvci t pmh
CM I vhzvhthlpcpgqht {hvh zxtmglk cp pmh p gih, Blh CM I `gtpvgdp i clckhv vhahvvh` pb pmgt haabvp ct
&thnnglk pmh nbcl zvbkvcit.& fxp gl acdp g p {ct ibvh ba cl haabvp gl zhvtxctgbl pmcl c tcnh, Pm h C MI
tcnht vhzt zxtmh` pmh nbcl zvb`xdpt tzbltbvh` fw pmh [cnn Tpvhhp agvit -txdm ct `hahl`clpt' pmcp
hqhlpxcnnw {bxn` fxw CMI+t nbcl zbbnt cl` pmhl vhthnn pmhi ct Dhvpgagdcpht pb pmh Dnctt, Pmh
xl`hv{ vgpglk tpcl`cv`t {hvh qhvw nc} . gl pmcp pmhw vhsx gvh` qhvw ngppnh gl pmh {cw ba `bdx i hlpcpgbl pb
sxcngaw fbvvb{hvt abv pmh nbcl zvbkvci t,
=;, Gl c``gpgbl pb xtglk pmh thvqgdht ba bxptg`h fvbehvt {mb tbn` C MI +t nbcl zvb`xdpt.
CMI mc` c Vhpcgn Nhl`glk Kvbxz pmcp tbn` nbclt `gvhdpnw pb dbltxihvt, Pmbth gl pmh Vhpcgn
Nhl`glk Kvbxz { hvh dbi zhltcph`. gl zcvp . fcth` xzbl pmh pwzh cl` lxifhv ba nbclt pmhw dnbth`,
Mb{hqhv. gl bv`hv pb dnbth c nbcl. pmh nbcl mc` pb fh czzvbqh` fw CMI+t xl`hv{vgphvt, Pmxt pmh
Vhpcgn Nhl`glk Kvbxz+t dbizh ltcpgbl {ct `hphvi glh`. gl zcvp. fw {mhpmhv pmh xl`hv{vgphv czzvbqh`
pmh nbclt pmh Vhpcgn Nhl`glk Kvbxz {ct cpphizpglk pb thnn pb c zbphlpgcn dxtpbihv, Tgigncvnw. zcw
)68)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 27/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 6; ba 01
vcgtht abv pmh xl`hv{vgphvt {hvh `hphviglh` fw pmh Vhpcgn Nhl`glk Kvbxz, Cddbv`glknw. pmh
xl`hv{ vgphvt + dbizhltcpgbl {ct `gvhdpnw caahdph` fw `hdgtgblt ic`h fw pmh Vhpcgn Nhl`glk Kvbxz.
cl` pmh Vhpcgn Nhl`glk Kvbxz+t dbizhltcpgbl {ct `gvhdpnw caahdph` fw `hdgtgblt ic`h fw pmh
xl`hv{vgphvt, Pmgt twifgbpgd vhncpgbltmgz zvbqg`h` zb{hvaxn gldhlpgqht abv pmh xl`hv{vgphvt pb
czzvbqh ct iclw nbclt ct zbttgfnh lbp{gpmtpcl`glk {mhpmhv c fbvvb{hv dbxn` caabv` pb vhzcw pmh
nbcl bv {m hpmhv pmh nbcl dbi zngh` { gpm xl `hv{vgpglk kxg`hnglht. pmhvhfw aglcldgcnnw vh{cv`glk pmh
Vhpcgn Nhl`glk Kvbxz. {mb gl pxvl {bxn` czzvbqh zcw vcgtht abv pmh xl`hv{vgphvt,
==, Ct lbph` fw c abvihv CMI hiznbwhh. hqhl nbcl zbbnt pmcp {hvh xnpgicphnw vcph`
CC C { hvh ic `h xz ba &lbpmglk fxp oxle,& CM I xl`hv{vgpglk kxg`hnglht {hvh `htgklh` pb dbiznw
{gpm pmh lhh`t ba pmh [cnn Tpvhhp agvit pmcp tbxkmp pmh nbcl zbbnt pb xth ct dbnncphvcn abv pmhgv
thdxvgpgcpgblt, [mhl blh CMI @gtpvgdp Iclckhv nhcvlh` pmcp pmh vcpglk ckhldght vcph` CMI+t nbcl
zbbnt ct CC C. gp nhap pmh @ gtpvgdp I clckhv &{bl`hvglk,& Fxp CM I . dblpglxh` pb thnn pmhth zbbnt pb
[ cnn Tpvhhp fclet. {mb tbn` pmh D hvpgagdcpht cp gttxh gl pmgt ngpgkcpgbl {mgdm {hvh fc deh` fw pmh th
sxhtpgblcfnh nbcl zbbnt,
=7, Vhzvhthlpcpgqht ba pmh [ cnn Tpvhhp agvit. gldnx`glk `hahl`clpt. pmcp zxvdmcth` C MI +t
nbclt htthlpgcnnw pbn` CM I . &Pceh bx v zvb`xdp cl` th nn g p,& [ cnn Tpvhhp agvi t `g` lbp {clp pb &i gtt
bxp bl pmh mbxtglk fbbi& cl` lhh`h` glqhtpihlp bzzbvpxlgpght pb tbce xz pmh axl`t dbiglk gl.
zcvpgdxncvnw avbi abvhgkl glqhtpbvt, CM I gklbvh` gttxht t xdm ct pmh fbvvb {hv+t cfgngpw pb vhzcw. cl`
gltphc` ic`h nbclt {mgdm dbxn` pmhl fh vhtbn` pb `hahl`clpt cl` pmh bpmhv [cnn Tpvhhp fclet,
Cddbv`glk pb c abvihv C MI @ gtpvgdp I clckhv. [ cnn Tpvhhp agvit &ah` baa hcdm bpmhv. cl` dbxn` lbp
khp hlbxkm ba pmhth nbcl zbbnt. cl` pmhth [cnn Tpvhhp agvit {hvh zcdeckglk pmhth zbbnt cl`
thdxvgp gglk pmhi c t actp ct pmhw dbxn`. cl` pmhw tbn` pmhth thdxvgp ght cnn bqhv pmh {bvn`,& Cddbv`glk
pb pmgt abvih v CM I @gtpvgdp Ic lckhv. &Pmhw `gtpvgfxph` pmgt pb}gd {ctph pmvbxkmbxp pmh {bvn`{g`h
twtphi,&
)61)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 28/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 6= ba 01
7:, C MI +t nbclt {hvh zcvpgdxncvnw zbzxncv {gpm tzhdxncpbvt {mb {bx n` lbp bddxzw pmh
mbi ht. {mgdm {bx n` `hdvhcth pmh fbvvb{hvt+ &{gnnglklhtt& pb zcw pmh `hfp ga mbi h zvgdht tpcklcph`
bv `vbzzh`, Pmgt xnpgicphnw dcih pb fhcv bl i clw ba CM I +t nbclt cl` CM I tx fthsxhlpnw txaahvh`
nbttht gpthna {mhl &fbvvb{hvt {mbth gldbiht UCMIY mc`l+p qhvgagh` fhkcl pb `hacxnp bl ngppnh)
iblhw)`b{l nbclt cp cl cddhnhvcph` zcdh,& Ticvpiblhw,dbi . Oxnw 43. 6::;,
73, CMI dncgih` tpcph` gldbih czzngdcpgblt {hvh ic`h {mhvh &bpmhv dbizhltcpglk
acdpbvt.& txdm ct mgkmhv dvh` gp tdbvht bv nb{hv nbcl)pb)qcnxh vhsx htpt. h}gtph`. fxp gl acdp? -g' CM I
cnnb{h` dvh` gp tdbvht pb fh iclgzxncph` fw pmh fbvvb{hv. {mb { bxn` fhdbi h cl czzvbqh` xthv bl
clbpmhv zhvtbl+t dvh`gp dcv` bv bpmhv cddbxlp {mb mc` fhpphv dvh`gp vcpglkt5 cl` -gg' CMI mc` lb
vhctblcfnh fctgt pb fhnghqh pmcp nb{hv N PQ vcp gbt {hvh fhglk vhsxgvh` fhdcxth C MI {ct cnvhc`w
c{cvh pmcp pmh czzvcgtcnt fhglk xth` fw pmh D bizclw . zcvpgdxncvnw gl Ph}ct cl` Gn nglbgt gl 6::8 cl`
6::1. {hvh glancph` -pmxt nhc`glk pb c acnth. nb{hv NPQ vcpgb' cl` pmcp pmh tcih `hahdpgqh
ihpmb`bnbkght {hvh fhglk xth` gl tpcpht txdm ct Dcngabvlgc cl` Anbvg`c,
76, Gl cl haabvp pb ehhz nbcl qbnxih xz `htzgph c tnb{`b{l gl cdpgqgpw. CMI +t fvbehvt
fhdci h tb ckkvhttgqh pmcp fbvvb{hvt {hvh kgqhl nbclt {gpm `gaahvhlp phvit pmcl pmhw {hvh bvgkglcnnw
zvbigth`, Fbvvb{hvt mcqh. gl acdp . dbizncglh` pmcp nbclt {hvh t{gpdmh` bl pmhi fw CM I . nhcqglk
pmhi {gpm i bvpkckht pmhw dbxn` lbp zcw,
74, CM I {ct xtglk clwpmglk fxp &dbiibl thlth& gl kvclp glk ibvpkckht pb dxtpbihvt
{gpm ngppnh iblhw `b{l {mhvh c pmgv` ba pmh ibvpkckht {hvh zcw)bzpgbl CVIt cl` iclw ba pmh
nbclt {hvh pb tzhdxncpbvt,
Pmh Dmcth Bvgkglcpbvt
70, [ gpm vhtzhdp pb pmh Dmcth Bvgkglcpbvt. pmh vhzvhthlpcpgbl gl pmh Baahvglk @bdx i hlpt
abv Pvxtp 6::;)T4 pmcp &c `h phvi glcp gbl g t i c`h ct pb {mhpmhv pmh zv btzhdp gqh fbvvb{ hv mct
txaagd ghlp i blpmnw gldbi h cqcgncfnh pb i hhp pmh fbv vb{ hv+t iblpmnw bfngkcp gblt bl pmh zv bzbth`
)6;)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 29/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 67 ba 01
nbcl cl` bpmhv h}z hltht vhncph` p b pmh v htg`hldh -txdm ct zvbz hvpw pc}ht cl` gltxvcldh' ct { hnn ct
pb i hhp bpmhv aglcldgcn bfngkcpgblt cl` i blpmnw n gqglk h}zhltht& {ct acnth cl` igtnhc`glk, Pmh
Dmc th B vgkglcpbvt+ xl`hv{vgpglk kxg`hnglht ‐ ngeh i btp ga lbp cnn ba pmh nbcl bvgkglcpbvt ‐ {hvh lbp
czzngh` pb hqcnxcph pmh zvbtzhdpgqh fbvvb{hv+t vhzcwihlp cfgngpw, Vcpmhv. cddbv`glk pb c abvihv
[mbnhtcnh Cddbxlp H}hdxpgqh {gpm Dmcth Mbih Aglcldgcn -&DMA&' avbi 6::6 pb 6::=. pmh
xl`hv{vgpglk zvbdhtt {ct txfohdp pb cfxth fw fvbehvt {mb zxvzbthnw bvgkglcph` nbclt abv zhbznh pmhw
elh{ dbxn` lbp vhzcw pmhi, C``gpgblcnnw. DMA+t zvbzvghpcvw cxpbicph` xl`hv{vgpglk twtphi
&_gzzw& mc` h}pvhihnw nbbth kxg`hnglht cl` {ct hctgnw cl` baphl bqhvvg``hl, Pmh abvihv Cddbxlp
H} hdxpgqh cdelb{nh`kh` pmcp mc` &_gzzw+t& vhsxgvhihlpt lbp fhhl tb nbbth bv ga bpmhv i hctxvht mc `
fhhl pcehl gl pmh xl`h v{vgpglk zvbdhtt. pmh nbclt gp czzvbqh` {bx n` bpmhv{gth lbp mcqh thhl pmh ngkmp
ba `cw,
78, Pmh h }phlp ba &_gzzw+t& nc} xl`hv{ vgpglk tpcl`cv` cl` pmh hcth fw { mgdm `cpc dbxn`
fh iclgzxncph` pb cdmghqh pmh `htgvh` czzvbqcn {ct `bdxihlph` gl cl glphvlcn ihib h}zncglglk
{cwt pb &dmhcp& cl` &pvgde& _gzzw, Abv h} ci znh. pmh i hi b gltpvxdpt fvbehvt pb kvbxz pgzt. fblxtht.
cl` bpmhv ci bxlpt pb iceh pmh fcth gldbih czzhc v ncvkhv bv pb tgiznw glancph pmh tpcph` gldbi h bv
ctthpt fw $8:: gldvhih lpt pb thh ga pmh fvbehv db xn` khp pmh &`htgvh` agl`glkt,&
71, C``gpgblcnnw. c abvihv Ibvpkckh Nbcl Baagdhv cp OZ Ibvkcl Dmcth avbi 6::4
pmvbxkm Icvdm 6::; dblagvih` pmcp pmh `gvhdpgqh abv axnagnnglk pmh fxtglhtt ib`hn {ct pb zxvtxh
&abbp pvcaagd& gl pmh vhpcgn fvcldm baagdht cl ` pb sx cngaw c zzngdcpgblt hqhl abv bfqgbxtnw xlsx cngagh`
zhbznh {gpm qhvw zbbv dvh`gp cl` ngppnh cfgngpw pb vhzcw nbclt, Clbpmhv abvi hv I bvpkckh Nbcl B aagdhv
{gpm OZ I bvkcl Dmcth avbi 6::8 pmvbxkm 6 ::= `htdvgfh` mgt phci ct c fxldm ba db{fbwt {bveglk
pmh zmblht pb {vgph jF& cl` &D& nbclt abv dx tpbihvt pmhw g`hlpgagh` gl glphvlcn `cpcfctht ct mcqglk
pvbxfnh ihhpglk pmhgv dxvvhlp Dmcth ibvpkckh bfngkcpgblt, Mh c`igpph` pmhgv haabvpt nhap pmhth
gl`gqg`xcn fbvvb{hvt &{bvth baa + pmcl fhabvh pmh vhaglcldh tgldh pmhw {hvh l bp hqhl cfnh pb vhzcw
)6=)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 30/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 4: ba 01
pmh zvhqgbxtnw h}gtpglk nbcl, Pmhth nbclt {hvh xl` hv{vgpphl `htzgph pmh acdp pmcp pmh vh {ct lb
hqg`hldh pmcp pmh czzngdclp+t aglcldgcn dgvdxitpcldht m c` gizvbqh` ,
@hahl`clpt Igtvhzvhthlph` pmcp? -3' Czzvcgthvt+
Dbizhltcpgbl [ ct Lbp Caahdph` fw Czzvbqcn bv@gtczzvbqcn ba pmh N bclt5 -6 ' Czzvcgtcnt [ hvhZhvabvih` gl Dblabvigpw {gpm XTZCZ5-4' Czzvcgtcnt Dblabvih` pb Acllgh I ch bvAvh``gh Icd Tpcl`cv`t5 cl`"bv -0' Czzvcgtcnt
[ hvh Fcth` bl Vhdhlp Tcnht ba Dbizcvcf nh Zvbzhvpght
7;, Pmh V hkgtpvcpgbl Tpcphihlp cl` Zvbtzhdpxt Txzznhihlp abv pmh OZ I bvkcl Ibvpkckh
Pvxtp 6::;)84 vhzvhthlph` pmcp &UcYnn czzvcgtcnt dblabvi pb pmh UXT ZCZ Y c`bzph` fw pmh C zzvcgtcn
Tpcl`cv`t F bcv` ba pmh Czzvcgtcn Abxl`cpgbl& cl` pmcp &UpYmh czzvcgtcn khlhvcnnw {gnn mcqh fhhl
fcth` xzbl c i cvehp `cpc clcnwtgt ba vhdhlp tcnht ba dbizcvc fnh zvbzhvpght,&
7=, Tgigncvnw. pmh Zvbtzhdpxt Txzznhi hlp abv pmh OZ I bvkcl Ibvpkckh Pvxtp 6::;)84
tpcph` tzhdgagdcnnw {gpm vhtzhdp pb nbcl bvgkglcpbv CM I pmcp &UcYnn czzvcgtcnt dblabvi pb pmh
UXTZCZY c`bzph` f w pmh Cz zvcgtcn Tpcl`cv`t Fbcv` ba pmh Cz zv cgtcn Abxl`cpgbl& cl` pmcp &UpYmh
czzvcgtcn khlhvcnnw {gnn mcqh fhhl fcth` xzbl c icvehp `cpc clcnwtgt ba vhdhlp tcnht ba
dbizcvcfnh zvbzhvpght,& C` `gpgblcnnw. {gpm vhtzhdp pb pmh Dm cth B vgkglcpbvt. pmh Zvbtzhdpxt
Txzznhihlp tpcph` pmcp hcdm &czz vcgtcn gt dbl`xdph` f w cl gl`hzhl` hlp ahh czz vcgthv,&
77, G`hlpgdcn nclkxckh czzhcvh` gl pmh Zvbtzhdpxt Txzznhihlpt abv OZ Ibvkcl I bvpkckh
Pvxtp 6::;)86. OZ Ibvkcl Ibvpkckh Pvxtp 6::;)C4. OZ Ibvkcl Ibvpkckh Pvxtp 6::;)C0. OZ
Ibvkcl I bvpkckh Pvxtp 6::;)C8 . OZ Ibvkcl Ibvpkckh Pvxtp 6::;)C1. cl` OZ Ibvkcl Cnphvlcpgqh
Nbcl Pvxtp 6::;)C6,
3::, Pmh abvhkbglk vhzvhthlpcpgbl gl ±7=. pmcp czzvcgtcnt {hvh `blh fw sxcngagh` cl`
&gl`hzhl`hlp& czzvcgthvt {ct acnth cl` i gtnhc`glk, Czzvcgthvt {hvh bv`hvh` fw nbcl bvgkglcpbvt pb
kgqh zvh`hphvi glh`. glancph` czzvcgtcnt pmcp {bx n` vhtxnp gl czzvbqcn ba pmh nbcl5 ga pmh czzvcgthv
bfohdph` pb pmh glancph` czzvcgtcn lxifhv. pmhw {bxn` fh pmvhcphlh` {gpm fhglk fncde)fcnnh` {gpmgl
)67)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 31/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 43 ba 01
pmh gl`xtpvw, Czzvcgthvt {hvh avhsxhlpnw pmvhcphlh` fw fhglk pbn` pb zvbqg`h c zvh`hphviglh`
czzvcgtcn qcnxh oxtpgawglk c nbcl bv acdh lhqhv `bglk fxtglhtt ckcgl, Pmxt. czzvcgthvt+ dbizhltcpgbl
{ct gl acdp caahdph` fw {mhpmhv bv lbp c nbcl {ct czzvbqh`,
3:3, Thdbl` . pmh vhzvhthlpcpgblt gl ±±7;)7= pmcp &UcOnn czzv cgtcnt dblabvi pb pmh UXTZ CZY
c`bzph` fw pmh Czzvcgtcn Tpcl`cv`t Fbcv` ba pmh Czzvcgtcn Abxl`cpgbl& {hvh acnth cl`
igtnhc`glk fhdcxth pmh czzvcgtcnt `g` lbp dblabvi pb pmh XTZ CZ tpcl`cv`t,
3:6, Pmh XTZCZ zvbqg`ht pmcp?
-c ' Cl czzvcgthv ixtp zhvabvi cttgklihlpt {gpm gizcvpgcngpw. bfohdpgqgpw. cl`
gl`hzhl`hldh. cl` {gpmbxp cddbiib`cpgbl ba zhvtblcn glphvhtpt5
-f ' Gl czzvcgtcn zvcdpgdh. cl czzvcgthv ixtp lbp zhvabvi ct cl c`qb dcph abv clw
zcvpw bv gttxh5
-d ' Cl czzvcgthv ixtp lbp cddhzp cl cttgklihlp pmcp gldnx`ht pmh vhzbvpglk ba
zvh`hphviglh` bzglgblt cl` dbldnxtgblt5 cl`
-` ' Gp gt xlhpmgdcn abv cl czzvcgthv pb cddhzp cl cttgklihlp. bv pb mcqh c
dbi zhltcpgbl cvvclkhi hlp abv cl cttgklih lp. pmcp gt dblpglkhlp bl clw ba pmh abnnb{glk?
-g ' Pmh vhzbvpglk ba c zvh`hphvi glh` vhtxnp -h,k,. bzglgbl ba qcnxh'5
-gg' C `gvhdpgbl gl cttgklihlp vhtx npt pmcp acqbvt pmh dcxth b a pmh dnghlp5
-ggg' Pmh ci bxlp ba c qcnxh bzglgbl5
-gq' Pmh cppcglihlp ba c tpgzxncph` vhtxnp5 bv
-q ' Pmh bddxvvhldh ba c txfthsxhlp hqhlp `gvhdpnw vhncph` pb pmh czzvcgthv+t
bzglgblt cl` tzhdgagd pb pmh cttgkli hlp+t zxvzbth,
3:4, Pmh vhzvhthlpcpgblt pmcp czzvcgtcnt dblabvih` pb pmh XTZCZ. bv Acllgh Ich bv
Avh`` gh Ic d tpcl`cv`t. {hvh i cphvgcnnw acnth cl` i gtnhc`glk gl pmcp pmhw bi gpph` pb tpcph pmcp pmh
czzvcgtcnt {hvh glcddxvcph fhdcxth. dblpvcvw pb pmh XTZCZ bv Acllgh Ich cl`"bv Avh``gh Icd
)4:)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 32/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 46 ba 01
tpcl`cv`t. czzvcgthvt {hvh bv`hvh` pb dbih fcde {gpm zvh`hphviglh`. zvhdbldhgqh .̀ glancph` cl`
acnth czzvcgtcn qcnxht,
3:0, I btp nhl`hvt cnnb{h` pmh tcnht zhvtbllhn bv cddbxlp h}hdx pgqht pb bv`hv cl` dblpvbn
pmh czzvcgtcnt, Pmhth tcnht zhvtbllhn {hvh pwzgdcnnw bl c dbi i gttgbl)blnw zcw tpvxdpxvh cl` {h vh
pmhvhabvh i bpgqcph` pb dnbth ct i clw nbclt ct zbttgfnh cp pmh mgkmhtp zbttgfnh nbcl cibx lpt, Pmhth
tcnht zhvtbllhn cl` cddbxl p h}hdx pgqht {bx n` zvhttxvh czzvcgthvt pb czzvcgth zvbzhvpght cp zvh)thp.
cvpgagdgcnnw mgkm nhqhnt pb oxtpgaw pmh nbclt pmhw {clph` pb i ceh. bv pmhw { bxn` lbp fh mgvh` ckc gl,
3:8, Pmgt `wlcigd dcxth` czzvcgthvt pb h}zhvghldh twtphigd zvbfnhit ba dbhvdgbl. ct
iclw {hvh bv`hvh` pb `bdpbv pmhgv vhzbvpt bv acdh lhqhv thhglk {bve avbi nhl`hvt ckcgl. ct pmhw {hvh
pmvhcphlh` {gpm fhglk zxp bl h} dnxtgblcvw &`b)lbp)xth& n gtpt, Pmgt zvhttxvh txddhh`h` gl khlhvcpglk
cvpgagdgcnnw glancph` czzvcgtcnt,
3:1, C 6 ::; txvqhw ba 3.6:: czzvcgthvt dbl`xdph` fw Bdpbfhv Vhthcvdm D bvz, ‐ c agvi gl
Vgdmaghn`. Bmgb pmcp zxfngtmht Q cnxcpgbl Vhqgh{ ‐ abxl` pmcp 7:( ba czzvcgthvt vhzbvph` pmcp
ibvpkckh fvbehvt cl` bpmhvt zvhttxvh` pmhi pb vcgth zvbzhvpw qcnxcpgblt pb hlcfnh `hcnt pb kb
pmvbxkm, Pmh tpx`w cntb abxl` pmcp ;8( ba czzvcgthvt vhzbvph` &lhkcpgqh vci gagdcpgblt& ga pmhw `g`
lbp dbbzhvcph. cnphv pmhgv czzvcgtcn. cl` zvbqg`h c m gkmhv qcnxcpgbl,
3:;, Czzvcgtcnt dbl`xdph` abv CMI {hvh lbp fcth` xzbl pmh czzvcgthv+t zvbahttgblcn
dbldnxtgbl fcth` bl icvehp `cpc ba tcnht ba dbizcvcfnh zvbzhvpght cl` c nbkgdcn clcnwtgt cl`
ox`ki hlp, Gltphc`. dblpvcvw pb XTZC Z. iclw ba CM I +t czzvcgtcnt {hvh fcth` xzbl zvh)`hphviglh`
qcnxht `hicl`h` fw fvbehvt, CMI czzvcgthvt avhsxhlpnw txddxifh` pb fvbehvt+ `hicl`t pb
czzvcgth cp zvh)`hphviglh` glancph` qcnxht, Gl`hh`. ct `htdvgfh` fw c abvihv C MI Qgdh Z vhtg`hlp
a vbi I cvdm 6::4 pmvbxkm I cw 6::;. czzvcgtcn a vcx` {ct c dbii bl zvbfnhi cp CM I , Pmgt abvihv
Qgdh Z vhtg`hlp vhdbxlph` mb{ nbcl baagdhvt zvhttxvh` czzvcgthvt pb dbih xz {gpm pmh &vgkmp lxifhv,&
)43)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 33/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 44 ba 01
@xh pb glancph` czzvcgtcnt. pmh NPQ vcpgbt vhzvhthlph` cfbqh {hvh glcddxvcph fhdcxth pmhth vcpgbt
cttxih` cddxvcph czzvcgtcnt {hvh zhvabvih`,
3:=, Lx ihvbx t czzvcgthvt mcqh dblagvih` pmcp pmh glancpgbl ba czzvcgtcnt {ct twtphigd cl`
dbiiblzncdh, Abv h}ciznh. pmh b{lhv ba c ticnn Ig`{htp vhtg`hlpgcn vhcn htpcph czzvcgtcn agvi gl
Gn nglbgt. {mb {ct c zzvbqh` cl`"bv xpg n gh` fw D bxlpvw{g`h cl` C M I g l bqhv 3:: pvcltcdpgblt tpcph`
pmcp ibvpkckh fvbehvt {bxn` dcnn mgi cl` tcw &G lhh` pmgt lxi fhv,& Pmgt czzvcgthv cntb tpcph` pmcp
mh {c t avhsxhlpnw pmvhcphlh` { gpm. &UhYgpmhv kgqh xt pmgt mbi h qcnxh bv wbx { gnn lhqhv `b fxtglhtt
abv xt ckc gl,&
3:7, Cl gl`hzhl`hlp czzvcgthv avbi Anbvg`c {mb {ct czzvbqh` fw C M I . cl` bpmhv
bvgkglcpbvt . tpcph` pmcp tmh {ct pbn` fw fvbehvt cl`"bv nhl`hvt pmcp ? &[H LH H@ PM GT LX I FH V.
BV WBX [GNN LHQHV [BVE ABV XT CKCGL,& Gl bv`hv pb tpcw gl fxtglhtt. tmh kcqh pmh
qcnxcpgblt pmh fvbehv bv nhl`hv `hi cl`h`. hqhl ga gp vhsxgvh` `vgqglk 6: i gnht c{cw abv c dbi zcvcfnh
tcnh, @xvglk pmh vhnhqclp zhvgb`. pmgt czzvcgthv dbiznhph` bqhv blh mxl`vh` czzvcgtcnt abv
Dbxlpvw{g`h. C MI cl` bpmhv bvgkglcpbvt pmcp {hvh b qhv glancph`,
33:, Clbpmhv gl`hzhl`hlp czzvcgthv tpcph` pmcp Dbxlpvw{g`h gl)mbxth cl` bxptg`h nbcl
baagdhvt ̀ hi cl`h` glancph` lxi fhvt avbi mgi gl Dbi zpbl cl` [ cppt. Dcngabvlgc, Mh cntb gl`gdcph`
pmcp mh mc` tgigncv h}zhvghldht { gpm C M I , Pmh nhl`hvt pbn` mgi hgpmhv kgqh mgi pmh lxi fhvt pmhw
{clp. bv mh {bxn` fh &`blh & cl` {bxn` fh fncdefcnnh` fw hqhvw nhl` hv `bglk fxtglhtt gl Dcngabvlgc,
Cddbv`glk pb pmgt czzvcgthv. &G `g` bqhv 3:: bqhv glancph` czzvcgtcnt oxtp abv [hnnt UAcvkb cl`Y
Db xlpvw{g`h,& Gl tbih dctht mh {ct czzvcgtglk mbxtht ‐ pmcp mh `htdvgfh` ct &dvcde mbxtht& pmcp
tmbxn` mcqh fhhl fxnn`bh` ‐ abv $3::.::: i bvh pmcl pmhw {hvh {bvpm, Pmh czzvcgthv tpcph` pmcp pmh
lhgkmfbvmbb`t {hvh tb fc`. pmcp mh {bxn` tbihpgiht lhqhv khp bxp ba mgt dcv. cl` {bxn` ihvhnw
`vgqh fw cl` pceh zgdpxvht ba pmh mbxth cl` kgqh pmh fvbehv bv pmh nhl`hv pmh lxi fhv pmhw `hi cl`h`,
)46)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 34/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 40 ba 01
333, C vhqgh{ ba zvbzhvpw glabvicpgbl avbi 1: nbclt fcdeglk Pvxtp 6::;)84. gldnx`glk pmh
cxpbic ph` qcnxcpgbl ba pmh cpphl`clp zvbzhvpght. vhqhcnt pmcp 60 ba pmbth nbclt -bv 0 :(' bqhvqcnxh`
pmh zvbzhvpw fw 7( bv i bvh. dbi zcvh` pb pmh pvxh qcnxh ba pmh zvbzhvpw cp pmh pgi h ba bvgkglcpgbl,
Pmgt bqhvqcnxcpgbl vhtxnph` gl cl xl`hvtpcph` NPQ vcpgb abv hcdm ba pmhth 60 nbclt,
336, Pmh vhzvhthlpcpgblt pmcp &Up "mh czzv cgtcnUtY khlhvcnnw { gnn mcqh fhhl f cth` xz bl c
i cvehp ` cpc clcnwtgt ba vhdhlp tcnht ba dbizcvcfnh zvbzhvpght& {ct acnth cl` i gtnhc`glk, Gl i clw
dctht pmh czzvcgtcnt {hvh fcth` bl zxvzbvph`nw &dbizcvcfnh zvbzhvpght& {mgdm vhcnnw {hvh lbp
dbi zcvcfnh, Ct cl gl`hzhl` hlp czzvcgthv gl Anbvg`c vhncph`. gl bv`hv pb tpcw gl fxtglhtt. tmh kcqh
glancph` czzvcgtcnt hqhl ga gp vhsxgvh` `vgqglk 6: ignht c{cw abv &dbizcvcfnh& tcnht pmcp vhcnnw {hvh
lbp dbizcvcfnh, Czzvcgthvt vbxpglhnw xth` ibvh h}zhltgqh zvbzhvpght {gpm ncvkhv nbpt bv tsxcvh
abbpckht. bv {mgdm mc ` bpmhv ci hlgpght pmh czzvcgth` zvb zhvpw `g` lbp mcqh. gl bv`hv pb glancph pmh
qcnxh ba pmh czzvcgth` zvbzhvpw,
Pmh NPQ Vcp gbt Tpcph` gl pmh Ba ahv glk @bdxi hlpt [ hvh Acnth
334, Hcdm Zvbtzhdpxt Txzznhihlp abv hcdm Pvxtp dblpcglh` glabvicpgbl dbldhvlglk pmh
NP Q vc pgbt cp bvgkglcpgbl ba pmh nbclt {gpmgl pmh Pvxtp, Tzhdgagdcnnw. &Cll h} C & ba pmh Zvbtzhdpxt
Txzznhih lp abv pmh OZ I bvkcl Ibvpkckh Pvxtp 6::;)8 4 dblpcglh` `hpcgnh` glabvicpgbl bl pmh NPQ
vcpgbt abv pmh nbclt {gpmgl pmh Pvxtp, Cl h}c iznh ba pmh NPQ vcpgb glabvicpgbl dblpcglh` { gpmgl pmh
cfbqh Zvbtzhdpxt Txzznhih lp gt thp abvpm fhnb{ gl cl h}dhvzp avbi zckh C)0 ba Cllh} C?
)44)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 35/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 48 ba 01
Bvgkglcn Nbcl)Pb)Qcnxh Vcpgbt ) Zbbn 3
Zhvdhlp ba
Lxifhv bakkvhkcphVclkh ba Bvgkglcn Nbcl)Pb)Qcnxhbvpkckhkkvhkcph Zvgldgzcnvgldgzcn Fcncldh
Vcbt -3b'bcltcncldh Bxptpcl`glsxptpcl̀ glk
:,:3 ) 3:,:: ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,3.:7=.::8,;=,:;(3:,:3 ) 6:,:: ,,,,,,,,,,,,,,,,,,,,,,,,,,,:8.704.=77,81,4;(
6:,:3 ) 4:,:: ,,,,,,,,,,,,,,,,,,,,,,,,,,,6;.1:6.808,1;,0;(4:,:3 ) 0:,:: ,,,,,,,,,,,,,,,,,,,,,,,,,,,337.1=4.618,8;,66(
0:,:3 ) 8:,:: ,,,,,,,,,,,,,,,,,,,,,,,,,,,8:;=.18:.3 46,3 1,=;(8:,:3 ) 1:,:: ,,,,,,,,,,,,,,,,,,,,,,,,,,,0;34;.:48.373,13,07(1:,:3 ) ;:,:: ,,,,,,,,,,,,,,,,,,,,,,,,,,,876;;.804.;0=,10;,6:(;:,:3 ) ;8,:: ,,,,,,,,,,,,,,,,,,,,,,,,,,,:368:.63 4.833,;;8,8:(
;8,:3 ) =:,:: ,,,,,,,,,,,,,,,,,,,,,,,,,,,.840;=6.84;.6;1,31=,0=(=:,:3 ) =8,:: ,,,,,,,,,,,,,,,,,,,,,,,,,,,;1.=10.378,13,04(
=8,:3 ) 7:,:: ,,,,,,,,,,,,,,,,,,,,,,,,,,,;6=.847.:8;,87,;;(
7:,:3 ) 78,:: ,,,,,,,,,,,,,,,,,,,,,,,,,,,;=.186.6=4,7;,80(78,:3 ) 3::,:: ,,,,,,,,,,,,,,,,,,,,,,,,,:7.167.:18,;4,1:(
Pbpcn ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.:613.134.776.3;7,=6::,::(
Ct ba pmh Dxp)baa @cph. pmh{hgkmph` cqhvckh Bvgkglcn Nbcl)pb)Qcnxh Vcpgb ba pmh
Ibvpkckh Nbclt gl Zbbn 3 gt h}zhdph`pb fh czzvb}gicphnw ;6,:6(
330, Hcdm ba pmh Zvbtzhdpxt Txzznhihlpt cp gttxh mhvhgl dblpcglh` tgigncv glabvicpgbl
cfbxp pmh NP Q vcpgbt ba pmh nbclt {gpmgl pmh Pvxtpt,
338, Pmh abvhkbglk NPQ vcpgbt gl pmh Baahvglk @bdxihlpt {hvh glcddxvcph. acnth cl`
igtnhc`glk fhdcxth pmhw {hvh dcndxncph` xtglk pmh acnth cl` glancph` zvbzhvpw czzvcgtcnt cnnhkh`
mhvhgl, Gldbvzbvcpglk cl glancph` czzvcgtcn glpb pmh NP Q dcndxncpgbl {gnn vhtxnp gl c nb{hv NP Q vcpgb,
Abv h} ci znh. ga c fbvvb{hv thhet pb fbvvb{ $7:.::: pb zxvdmcth c mbx th {bvpm $3::.:::. pmh NP Q
vcpgb gt $7:.:::"$3::.::: bv 7:(, Ga. mb{hqhv. pmh czzvcgth` qcnxh ba pmh mbxth gt cvpgagdgcnnw
gldvhcth` pb $36:.:::. pmh N PQ vcpgb `vbzt pb oxtp ;8( -$7:.:::"$36:.:::', Fhdcx th pmh NP Q vcpgb
dcl blnw fh dcndxncph` fw x tglk pmh czzvcgtcn qcnxh ba pmh zvbzhvpw. cl` fhdcxth pmh zvbzhvpw qcnxht
gl pmh czzvcgtcnt {hvh glancph`. pmgt vhtxnph` gl acnth. nb{hv N PQ vcpgbt abv pmh nbclt gl pmh P vxtpt,
Pmgt ic`h gp czzhcv pmcp pmh Dhvpgagdcpht {hvh tcahv cl` nhtt vgtew pmcl pmhw cdpxcnnw {hvh tgldh c
)40)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
http://slidepdf.com/reader/full/bad-chase-rmbs-investor-class-action-ft-worth-employees-retirement-fund-v 36/46
Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 41 ba 01
nb{hv NPQ vcpgb gl`gdcph` pmhvh {ct i bvh hsxgpw gl pmh zvbzhvpw. pmhvhfw zvbphdpglk pmh nbcl mbn`hv
gl pmh hqhlp ba c `hacxnp bv abvhdnbtxvh,
331, C vh qgh{ ba zvbzhvpw glabvic pgbl avbi 1: nbclt fcdeglk Pvxtp 6::;)T 4. gldnx`glk pmh
cxpbicph` qcnxcpgbl ba pmh cpphl`clp zvbzhvpght. vhqhcnt pmcp 60 ba pmbth nbclt -bv 0:(' bqhvqcnxh`
pmh zvbzhvpw fw 7( bv i bvh. dbizcvh` pb pmh pvxh qcnxh ba pmh zvbzhvpw cp pmh pgih ba bvgkglcpgbl,
Pmgt bqhvqcnxcpgbl vhtxnph` gl cl xl`hvtpcph` NPQ vcpgb abv hcdm ba pmhth 60 nbclt,
Pmh Dvh`gp Vcpglkt Cttgklh` pb pmh DhvpgagdcphtAcnthnw Zbvpvcwh` pmh Dhvpgagdcpht ct Ix dm TcahvGlqhtpihlpt pmcl Pmhw Vhcnnw [hvh
33;, Pmh Czvgn 64. 6 ::; Vh kgtpvcpgbl Tpcphihlp vhzvhthlph` pmcp &UgYp gt c dbl`gpgbl pb pmh
gttxcldh ba pmh thdxvgpght ba hcdm thvght baahvh` fw pmgt zvbtzhdpxt pmcp pmhw tmcnn mcqh fhhl vcph` gl
blh ba pmh ab xv mgkmhtp vcpglk dcphkbvght fw pmh l cpgblcnnw vhdbklgh` tpcpgtpgdcn vcpglk ckhldw bv
ckhldght tzhdgagh` gl pmh vhncph` zvbtzhdpxt txzznhihlp,& Hqhlpxcnnw. cnn ba pmh D hvpgagdcpht gl cnn ba
pmh Pvxtpt {hvh kgqhl glqhtpihlp kvc`h vcpglkt, Abv h}ci znh. pmh D hvpgagdcpht abv pmh OZ I bvkcl
Ibvpkckh Pvxtp 6::; T)4 {hvh cnn vcph` cp glqhtpihlp kvc`h. pmcp gt CC C pb FFF . fw Tpcl`cv` !
Zbbv+t Vcpglk Thvqgdht -&T!Z &' cl` A gpdm Vcpglk -&Agpdm&',
33=, Pmh Dhvpgagdcpht abv cnn ba pmh bpmhv P vxtpt dblpcglh` pmh tc ih bv tgigncv glqhtpihlp
kvc`h vcpglkt avbi T! Z. Agpdm bv Ibb`w+t Glqhtpbv T hvqgdht. Gld, -&Ibb`w+t&' -dbnnhdpgqhnw vhahvvh`
pb ct &Vcpglk C khldght&',
337, Pmh vcpglkt tpcph` gl pmh Vhkgtpvcpgbl Tpcphi hlp cl` Zvbtzhdpxt Txzznhi hlpt {hvh
glcddxvcph. acnth cl` igtnhc`glk fhdcxth pmhw {hvh fcth`. ct cnnhkh` fhnb{. bl bxp`cph`
cttxizpgblt. vhnc}h` vcpglkt dvgphvgc. cl` glcddxvcph nbcl glabvicpgbl, Pmhth anc{t zvb`xdh`
cvpgagdgcnnw mgkm dvh`gp vcpglkt abv pmh Dhvpgagdcpht. iceglk pmhi czzhcv tcahv cl` nhtt vgtew pmcl pmhw
vhcnnw {hvh,
)48)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
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Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 4; ba 01
36:, Pmh vcpglkt ckhldght xth` ib`hnt pb zvb`xdh pmh vcpglkt abv pmh Dhvpgagdcpht, Pmh
ib`hnt {hvh fcth` xzbl nbcl zhvabvicldh zvgbv pb pmh whcv 6:::, Mb{hqhv. cl xlzvhdh`hlph`
`hdnglh cl` `hphvgbvcpgbl gl ibvpkckh nhl`glk tpcl`cv`t bddx vvh` caphv 6::: {mgdm pmh i b`hnt `g`
lbp cddbxlp abv, Pmgt `hdnglh gl nhl`glk tpcl`cv`t cl` cl gldvhcth gl vgteghv h}bpgd ibvpkckh
zvb`xdpt `xvglk pmh 6::3 pmvbxkm 6::8 pgih zhvgb` vhl`hvh` pmh vcpglkt ckhldght+ zvh)6::: nbcl
zhvabvi cldh `c pc bftbnhph, Pmx t. fw pmh pgi h pmh ckhldght zvbqg`h` &glqhtpi hlp kvc`h& vcpglkt pb
pmh Dhvpgagdcpht. pmhgv mgtpbvgdcn `cpc lb nblkhv vhanhdph` pmh vhcngpw pmcp ibvpkckh dvh`gp sxcngpw {ct
vczg`nw `hphvgbvcpglk,
363, Gl c``gpgbl pb xtglk anc{h` ib`hnt pb khlhvcph vcpglkt. pmh Vcpglkt Ckhldght
vhzhcph`nw hcth` pmhgv vcpglkt tpcl`cv`t gl bv`hv pb dczpxvh i bvh i cvehp tmcvh ba pmh vcpglkt fxtglhtt,
Pmgt hctglk ba vcpglkt tpcl`cv`t {ct `xh gl ncvkh zcvp pb pmh acdp pmcp pmhth Vcpglk Ckhldght {hvh
dbizhltcph` fw pmh qhvw hlpgpght. g,h,. pmh `hahl`clpt. pmcp pmhw zvbqg`h` vcpglkt pb. cl` pmh acdp pmcp
pmbth hlpgpght {hvh avhh pb tmbz cvbxl` abv pmh vcpglk ckhldw pmcp {bxn` zvbqg`h pmhi {gpm pmh
mgkmhtp vcpglkt,
366, Gl c``gpgbl pb pmh hvb`glk vcpglk tpcl`cv`t cl` pmh anc{h` vcpglk ib`hnt cnnhkh`
cfbqh. pmh Vcpglkt Ckhldght+ vcpglkt {hvh cntb fcth` bl glcddxvcph glabvicpgbl, Pmh Vcpglk
Ckhldght vcph` pmh Dhvpgagdcpht fcth` gl ncvkh zcvp bl `cpc cfbxp hcdm ba pmh ibvpkckh nbclt pmcp
`hahl`clpt zvbqg`h` pb pmhi ‐ gldnx`glk fbvvb{hvt+ gldbi ht. zvbzhvpw czzvcgtcn qcnxht cl` N PQ
vcpgbt, Ct cnnhkh` cfbqh. ixdm ba pmgt `cpc {ct glcddxvcph `xh pb pmh glancph` czzvcgtcn qcnxht.
glcddxvcph NPQ vcpgbt. fbvvb{hv gldbih glancpgbl cl` acntgagdcpgbl. cl` pmh bpmhv acdhpt ba `hahdpgqh
xl`hv{vgpglk cnnhkh` mhvh gl, Lblh ba pmh vcpglkt ckhldght hlkckh` gl clw ` xh `gngkhldh bv bpmhv{gth
tbxkmp pb qhvgaw pmh cddxvcdw bv sx cngpw ba pmh nbcl `cpc xl`h vnwglk pmh nbcl zbbnt pmhw vcph`, Lbv
`g` pmhw thhe vhzvhthlpcp gblt avbi `hahl`clpt pmcp `xh `g ngkhldh {c t zhvabvih`,
)41)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
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Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 4= ba 01
364, Fhdcxth pmh vcpglkt ckhldght {hvh x tglk anc{h` glabvicpgbl cl` i b`hnt pb khlhvcph
pmhgv vcpglkt. pmh vcpglkt cttgklh` pb pmh Dhvpgagdcpht `g` lbp cddxvcphnw vhanhdp pmhgv vgte, Dhvpgagdcpht
{hvh kgqhl &glqhtpihlp kvc`h& vcpglkt {mhl gl vhcngpw pmhw { hvh lbp ba glqhtpihlp kvc`h sxcngpw, Ct
txdm. pmh tpcphi hlpt vhkcv`glk pmh vcpglkt ba pmh D hvpgagdcpht {hvh acnth cl` i gtnhc`glk,
@GTDNBTXVHT HI HVKH CFBXP ZVBFNHI T
[ GPM NBCLT XL@HVNWGLK PMH DHVPGAGDCPHT
360, Caphv pmh Dhvpgagdcpht {hvh gttxh`. pmh vcpglkt bl Dhvpgagdcpht {gpmgl hcdm ba pmh Pvxtpt
{hvh `b{lkvc`h`, Gl tbih gltpcldht. Dhvpgagdcpht pmcp vhdhgqh` pmh mgkmhtp vcpglk ba CCC cp
gttxcldh mcqh acnnhl iclw lbpdmht cl` cvh lb{ vcph` DD ‐ c vcpglk iclw nhqhnt fhnb{ pmh pmvhtmbn`
abv &oxle tpcpxt,&
368, Pmhth `b{lkvc`ht mc qh bddxvvh` fhdcx th pmh bvgkglcn vcpglkt `g` lbp cddxvcphnw
vhanhdp pmh vgte cttbdgcph` {gpm pmh ctthpt x l`hvnwglk pmh Dhvpgagdcpht, Axvpmhv. pmh `hnglsxhldw vcpht
bl pmh xl`hvnwglk ibvpkckh nbclt mcqh tewvbdehph`, Cnn ba pmh Pvx tpt mcqh h} zhvghldh` pmh 1:% `c w
`hnglsxhldw vcph gl h}dhtt ba 36( cl` gl ibvh pmcl c pmgv` ba pmh Pvxtpt. pmh 1:% `cw `hnglsxhldw
vcph gt gl h}dhtt ba 06(, Pmh &1:% `cw `hnglsxhldw vcph& gldnx`ht nbclt pmcp cvh abvhdnbtxvht. nbclt
pmcp cvh 1: `cwt bv i bvh `hnglsxhlp. cl` nbclt gl {mgdm pmh vhcn htpcph dbnncphvcn {ct vhpcehl fw pmh
nhl`hv, Gl iclw ba pmh P vxtpt. cp nhctp blh ba hqhvw abxv nbclt mct h}zhvghldh` abvhdnbtxvh, Pmh
ic ttgqh abvhdnbtxvh vcpht cl` h}pvcbv`glcvw `hnglsxhldght mcqh axvpmhv dblagvi h` `hahl`c lpt+
igtvhzvhthlpcpgblt dbldhvlglk pmh nhl`glk zvcdpgdht `hpcgnh` cfbqh,
361, Fhdcxth ba pmh `b{lkvc`ht. ct {hnn ct bpmhv glabvicpgbl pmcp {ct xlelb{l pb
glqhtpbvt cp pmh pgih pmh Dhvpgagdcpht {hvh gttxh`. pmh qcnxh ba pmh Dhvpgagdcpht mct `giglgtmh` kvhcpnw
tgldh pmhgv bvgkglcn baahvglk. ct mct pmh zvgdh cp {mgdm ih ifhvt ba pmh Dnctt dbxn` `gtzbth ba pmhi ,
Pmhth `giglxpgblt gl qcnxh cl` zvgdh mcqh dcxth` `cickht pb pmh Nhc` Zncglpgaa cl` pmh Dnctt,
)4;)
86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
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Dcth 3?:7)dq):4;:3)OKE @bdxihlp =8 Agnh` :;":="3: Zckh 47 ba 01
D B X L P G
Qgbncp gblt ba «33 ba pmh 3744 C dp
Ckcgltp C n n @hahl`clpt
36;, Nhc` Zncglpgaa vhzhcpt cl` vh)cnnhkht pmh c nnhkcpgblt thp abvpm cfbqh ct ga thp abvpm axnnw
mhvhgl, Abv zxvzbtht ba pmgt Dbxlp. Nhc` Zncglpgaa h}zvhttnw h}dnx`ht cl` `gtdncgit clw cnnhkcpgbl
pmcp dbxn` fh dbltpvxh` ct cnnhkglk avcx` bv glphlpgblcn bv vhdenhtt igtdbl`xdp. ct pmgt D bxlp gt fcth`
tbnhnw bl dncgit ba tpvgdp ngcfgngpw cl`"bv lh kngkhldh x l`hv pmh 3744 C dp,
36=, Pmgt Dbx lp gt fvbxkmp zxvtxclp pb « 33 ba pmh 3744 C dp. 38 X,T,D, «;;e. bl fhmcna ba
Nhc ` Zncglpgaa cl` pmh D nctt. ckcgltp cnn `hahl`clpt,
367, Pmh Vhkgtpvcpgbl Tpcphihlp abv pmh Dhvpgagdcph baahvglkt {ct glcddxvcph cl`
i gtnhc`glk. dblpcglh` x lpvxh tpcphih lpt ba ic phvgcn acdpt. bigpph` pb tpcph bpmhv acdpt lhdhttcvw pb
i ceh pmh tpcphihl pt ic`h lbp igtnhc`glk. cl` bigpph` pb tpcph ic phvgcn acdpt vhsxgvh` pb fh tpcph`
pmhvhgl,
34:, @h ahl`cl p OZ I bvkcl C ddhzpcldh. ct Gttxh v ba pmh D hvpgagdcpht. gt tpvgdpnw ngcfnh pb
Nhc` Zncglpgaa cl` pmh Dnctt abv pmh i gttpcphihlpt cl` bi gttgblt dbizncglh` ba mhvhgl. hqhl ga txdm
igttpcphihlpt cl` bigttgblt {hvh gllbdhlp ,
343, @ hahl`clp OZ I bvkcl {ct cl xl` hv{vgphv abv hcdm ba pmh baahvglkt tzhdgagh` gl ±34;
fhnb{ cl` acgnh` pb zhvabvi c`hsxcph `xh `gngkhldh. pmhvhfw zhvigppglk pmh acnth cl` igtnhc`glk
tpcphihlpt cl` bigttgblt gldnx`h` gl pmh Vhkgtpvcpgbl Tpcphihlp pb fh `gtthiglcph`,
346, @hahl`clp OZ Ibvkcl Thdxvgpght {ct cl xl`hv{vgphv abv hcdm ba pmh baahvglkt
tzhdgagh` gl ±34; fhnb{ cl` acgnh` pb zhvabvi c`hsxc ph `xh ` gngkhldh. pmhvhfw zhvi gppglk pmh acnth
cl` i gtnhc`glk tpcphih lpt cl` bigttgblt gldnx`h` gl pmh Vhkgtpvcpgbl Tpcphi hlp pb fh `gtthi glcph`,
344, @h ahl`clp OZ I bvkcl Cdsx gtgp gbl {ct pmh tzbltbv ba pmh D hvpgagdcph baahvglkt,
)4=)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
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D c t h 3 ? : 7 ) d q ) : 4 ;: 3 ) OKE @ b d x i h l p = 8 A g nh ` : ;": = "3 : Z c k h 0 : b a 01
340, Pmh Gl` gqg`xcn @hahl`c lpt tgklh` pmh V hkgtpvcpgbl Tpcphi hlp. {mgdm {ct acnth `xh pb
pmh igttpcphihl pt cl` bigttgblt `htdvgfh` cfbqh,
348, Lblh ba pmhth `hahl`clpt ic`h c vhctblcfnh glqhtpgkcpgbl bv zbtthtth` vhctblcfnh
kvbxl`t abv pmh fhngha pmcp pmh tpcphi hlpt dblpcglh` gl pmh Vhkgtpvcpgbl Tpcphihlp {h vh lbp acnth cl`
igtnhc`glk bv `g` lbp bigp icphvgcn acdpt pmcp vhl`hvh` tpcphihlpt ic`h pmhvhgl lbp acnth cl`
igtnhc`glk,
341, Fw vhctbl ba pmh dbl`xdp mhvhgl cnnhkh`. hcdm ̀ hahl`clp lcih` mhvhgl qgbncph`.
cl`"bv dblpvbnnh` c zhvtbl {mb qgbncph`. « 33 ba pmh 374 4 C dp,
34;, @h ahl`clpt OZ I bvkcl cl` OZ I bvkcl Thdxvgpght {hvh xl`hv{vgphvt abv pmh abnnb{glk
gttxcldht?
I bvpkckh Z ctt)Pmvbxkm D hvp ga gdcpht. Thvght 6::;)T6I bvpkckh Z ctt)Pmvbxkm D hvp ga gdcpht. Thvght 6::;)T4Ibvpkckh Zctt)Pmvbxkm Dhvpgagdcpht. Thvght 6::;)C4
I bvpkckh Z ctt)Pmvbxkm D hvp ga gdcpht. Thvght 6::;)C0I bvpkckh Zctt)Pmvbx km Dhvpgagdcpht. Thvght 6::;)T 3I bvpkckh Z ctt)Pmvbxkm D hvp ga gdcpht. Thvght 6::;)C6Ctthp)Fcdeh` Z ctt)Pmvbxkm Dh vp ga gdcpht. Thvght 6::;)DM 0
Ctthp)Fcdeh` Z ctt)Pmvbxkm Dh vp ga gdcpht. Thvght 6::;)DM 8I bvpkckh Z ctt)Pmvbxkm D hvp ga gdcpht. Thvght 6::;)C 8I bvpkckh Z ctt)Pmvbxkm D hvp ga gdcpht. Thvght 6::;)C 1Ctthp)Fcdeh` Z ctt)Pmvbxkm Dh vp ga gdcpht. Thvght 6 ::;)DM4
34=, Nhc` Zncglpgaa cdsxgvh` pmh Dhvpgagdcpht zxvtxclp cl`"bv pvcdhcfnh pb pmh Vhkgtpvcpgbl
Tpcphihlp, Nhc` Zncglpgaa cl` pmh Dnctt mcqh tx tpcglh` `ci ckht ct pmh qcnxh ba pmh D hvpgagdcpht mct
`hdnglh` txftpclpgcnnw txfthsxh lp pb pmh `gtdnbtxvht ba `hahl `clpt+ igtdbl`x dp,
347, Cp pmh pgih ba pmhgv zxvdmctht ba pmh Dh vpgagdcpht. Nhc` Zncglpgaa cl` bpmhv i hi fhvt ba
pmh Dnctt { hvh {gpmbxp elb{nh`kh ba pmh acdpt dbldhvlglk pmh {vblkaxn dbl`xdp cnnhkh` mhvhgl cl`
dbxn` lbp mcqh vhctblc fnw `gtdbqhvh` pmbth acdpt zvgbv pb pmh i g``nh ba 6::=, Nhtt pmcl blh wh cv mct
hnczth` avbi pmh p gih pmcp Nhc` Z ncglpgaa `gtdbqhvh` bv vhctblc fnw dbxn` mcqh `gtdbqhvh` pmh acdpt
xzbl {mgdm pmgt Dbizncglp gt fcth` pb pmh pgih pmcp pmh glgpgcn dbizncglp gl pmgt icpphv {ct agnh`,
)47)86=447R…
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
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D c t h 3 ? : 7 ) d q ) : 4 ;: 3 ) OKE @ b d x i h l p = 8 A g nh ` : ;": = "3 : Z c k h 0 3 b a 0 1
Nhtt pmcl pmvhh whcvt m ct hnczth` fhp{hhl pmh pgih pmcp pmh thdx vgpght xzbl {mgdm pmgt dncgi gt
fvbxkmp {hvh baahvh` pb pmh zxfngd cl` pmh pgih pmh glgpgcn dbizncglp {ct agnh`,
DBXLP GG
Qgbncpgblt ba «36-c'-6' ba pmh 3744 CdpCkcgltp @hahl`clpt OZ Ibvkcl. OZ Ib vkcl Thdxvgpght
cl` OZ Ibvkcl C ddhzpcldh
30:, Nhc` Zncglpgaa vhzhcpt cl` vh)cnnhkht pmh cnnhkcpgblt cfbqh ct ga thp abvpm axnnw mhvhgl,
Abv zxvzbtht ba pmgt Dbxlp. Nhc` Zncglpgaa h}zvhttnw h}dnx`ht cl` `gtdncgit clw cnnhkcpgbl pmcp dbxn`
fh dbltpvxh` ct cnnhkglk avcx` bv glphlpgblcn bv vhdenhtt igtdbl`xdp. ct pmgt Dbxlp gt fcth` tbnhnw bl
dncgit ba tpvgdp ngcfgngpw cl`"bv lhkngkhldh xl`h v pmh 3744 C dp,
303, Fw i hclt ba pmh `hahdpgqh Baahvglk @bdxi hlpt. `hahl`clpt OZ Ibvkcl. OZ Ibvkcl
Thdxvgpght cl` OZ Ibvkcl C ddhzpcldh zvbibph` cl` tbn` pmh Dhvpgagdcpht pb Nhc ` Zncglpgaa cl` bpmhv
ihi fhvt ba pmh Dnctt, @hahl`clpt OZ Ibvkcl. OZ Ibvkcl Th dxvgpght cl` OZ Ibvkcl C ddhzpcldh
tbngdgph` tcnht ba pmh Dhvpgagdcpht abv aglcldgcn kcgl. ct pmhw fhlh agpph` aglcldgcnnw avbi pmh tcnh ba pmh
Dhvpgagdcpht,
306, Pmh Baahvglk @bdxihlpt dblpcglh` xlpvxh tpcphihlpt ba icphvgcn acdp. cl` dbldhcnh`
cl` ac gnh` pb `gtdnbth icphvgcn acdpt. ct cnnhkh` cfbqh, OZ Ibvkcl. OZ I bvkcl Thdxvgpght cl` OZ
Ibvkcl C ddhzpcldh b{h` Nhc` Zncglpgaa cl` pmh bpmhv i hifhvt ba pmh D nctt {mb zxvdmcth` pmh
Dh vpgagdcpht zxvtxclp pb pmh Baahvglk @bdx ih lpt pmh `xpw pb i ceh c vhctblcfnh cl` `gngkhlp
glqhtpgkcpgbl ba pmh tpcphihlpt dblpcglh` gl pmh B aahvglk @bdxihlpt pb hltxvh pmcp txdm tpcphih lpt
{hvh pvxh c l` pmcp pmhvh {ct lb bi gttgbl pb tpcph c i cphvgcn acdp vhsxgvh` pb fh tpcph` gl bv`hv pb
i ceh pmh tpcphihlpt dblpcglh` pmhvhgl lbp igtnhc`glk, OZ Ibvkcl. OZ Ibvkcl T hdxvgpght cl` OZ
Ibvkcl Cddhzpcldh. gl pmh h}hvdgth ba vhctblcfnh dcvh. tmbxn` mcqh elb{l ba pmh igttpcphihlpt cl`
bigttgblt dblpcglh` gl pmh B aahvglk @bdxi hlpt. ct thp abvpm cfbqh,
)0:)86=447R3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
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D c t h 3 ? : 7 ) d q ) : 4 ;: 3 ) OKE @ b d x i h l p = 8 A g nh ` : ;": = "3 : Z c k h 0 6 b a 0 1
304, Nhc` Zncglpgaa `g` lbp elb{. lbv gl pmh h}hvdgth ba vhctblcfnh `gngkhldh dbxn` gp mcqh
elb{l. ba pmh xlpvxpmt cl` bigttgblt dblpcglh` gl pmh Baahvglk @bdxi hlpt cp pmh pgih gp cdsxgvh`
pmh D hvpgagdcpht,
300, Fw vhctbl ba pmh dbl`xdp cnnhkh` mhvhgl. OZ I bvkcl. OZ I bvkcl Thdxvgpght cl` OZ
Ibvkcl C ddhzpcldh qgbncph` «36 -c'-6' ba pmh 3744 C dp, Ct c ` gvhdp cl` zvb}gicph vhtxnp ba txdm
qgbncpgblt. Nhc` Zncglpgaa cl` pmh bpmhv ihifhvt ba pmh Dnctt {mb zxvdmcth` pmh Dhvpgagdcpht
zxvtxclp pb pmh B aahvglk @bdxi hlpt txtpcglh` txftpclpgcn `ci ckht gl dbllhdpgbl {gpm pmhgv
zxvdmctht ba pmh D hvpgagdcpht, Cddbv` glknw. Nhc` Zncglpgaa cl` pmh bpmhv ihi fhvt ba pmh Dnctt {mb
mbn` pmh Dhvpgagdcpht gttxh` zxvtxclp pb pmh Baahvglk @bdxihlpt mcqh pmh vgkmp pb vhtdgl` cl` vhdbqhv
pmh dbltg`hvcpgbl zcg` abv pmhgv tmcvht. cl` mhvhfw phl`hv pmhgv Dhvpgagdcpht pb OZ Ibvkcl. OZ Ibvkcl
Thdxvgpght cl` OZ I bvkcl Cddhzpcldh, Dnctt ihi fhvt {mb mcqh tbn` pmhgv Dhvpgagdcpht thhe
`cickht pb pmh h} phlp zhvigpph` fw nc{,
DBXLP GGG
Qgbncpgblt ba «38 ba pmh 3744 Cdp
Ckcgltp @hahl`clp OZ I bvkcl. @hahl`clp OZ I bvkcl Cddhzpcldh.pmh Gl`gqg`xcn @hahl`clpt cl` @hahl`cl p OZ Ibvkcl T hdxvgpght
308, Nhc` Zncglpgaa vhzhcpt cl` vh)cnnhkht pmh cnnhkcpgblt cfbqh ct ga thp abvpm axnnw mhvhgl,
Abv zxvzbtht ba pmgt Dbxlp. Nhc` Zncglpgaa h}zvhttnw h}dnx`ht cl` `gtdncgit clw cnnhkcpgbl pmcp dbxn`
fh dbltpvxh` ct cnnhkglk avcx` bv glphlpgblcn bv vhdenhtt igtdbl`xdp. ct pmgt Dbxlp gt fcth` tbnhnw bl
dncgit ba tpvgdp ngcfgngpw cl`"bv lhkngkhldh xl`h v pmh 3744 C dp,
301, Pmgt Dbxlp gt fvbxkmp zxvtxclp pb « 38 ba pmh 3744 Cdp ckcgltp `hahl`clp OZ Ibvkcl.
`hahl`clp OZ I bvkcl Cddhzpcldh. pmh Gl`gqg`xcn @ hahl`clpt cl` `hahl`clp OZ I bvkcl Thdxvgpght,
30;, OZ I bvkcl b{lt OZ Ibvkcl C ddhzpcldh. pmh gttxhv. cl` OZ I bvkcl Thdxvgpght. cl
xl`hv{ vgphv gl pmh tcnh ba pmh Dh vpgagdcpht, Fw qgvpxh ba pmh dbi znhph b{lhvtmgz ba OZ I bvkcl
)03 )8 6 = 4 4 7 R 3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
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D c t h 3 ? : 7 ) d q ) : 4 ;: 3 ) OKE @ b d x i h l p = 8 A g nh ` : ;": = "3 : Z c k h 0 4 b a 0 1
Cddhzpcldh cl` OZ I bvkcl Thdxvgpght. `hahl`clp OZ I bvkcl mc` pmh zb{hv pb. cl` `g`. `gvhdp OZ
Ibvkcl C ddhzpcldh cl` OZ I bvkcl Thdxvgpght. cl` {ct c dblpvbn zhvtbl bqhv pmbth hlpgpght,
30=, Hcdm ba pmh Gl`gqg`xcn @hahl`clpt {ct c dblpvbn zhvtbl ba OZ Ibvkcl Cddhzpcldh cl`
ba pmh Pvxtpt fw qgvpxh ba mgt"mhv zbtgpgbl ct c `gvhdpbv cl`"bv thlgbv baagdhv ba OZ Ibvkcl
Cddhzpcldh, Pm h Gl`gqg`xcn @h ahl`clpt {hvh vhtzbltgfnh abv pmh zvhzcvcpgbl ba pmh dblphlpt ba pmh
Vhkgtpvcpgbl Tpcphihlp {mgdm gldbvzbvcph` fw vhahvhldh pmh tpcphihlpt gl pmh Zvbtzhdpxt
Txzznhihlpt,
307, OZ I bvkcl Cddhzpcldh {ct pmh `hzbtgpbv cl` cl gttxhv abv pmh baahvglkt, OZ Ibvkcl
Thdxvgpght {ct cl xl`hv{vgphv abv pmh baahvglkt, Pmh `hahl`clpt lcih ` mhvhgl {hvh vhtzbltgfnh abv
bqhvthhglk pmh abvi cpgbl ba pmh Pvxtpt ct {hnn ct pmh bzhvcpgbl ba pmh Pvxtpt. gldnx`glk vbxpglk
zcwi hlpt avbi pmh fbvvb{hvt pb glqhtpbvt,
38:, Pmh `hahl`clpt lcih` gl pmgt Dbxlp zvhzcvh`. vhqgh{h` cl`"bv dcxth` pmh
Vhkgtpvcpgbl Tpcphihlp cl` Zvbtzhdpxt Txzznhihlpt pb fh agnh` cl` `gtthiglcph`,
ZVCW HV ABV VHNGHA
[ MH VHA BV H. Nhc` Zncglpgaa zvcwt abv vhngha cl` ox`kihlp. ct abnnb{t?
C , @hphvi glglk pmcp pmgt cdpgbl gt c zvbzhv dnctt cdpgbl cl` dhvpgawglk Nhc` Z ncglpgaa ct
Dnctt vhzvhthlpcpgqh5
F , C{ cv`glk dbizhltcpbvw `ci ckht gl acqbv ba Nhc` Zncglpgaa cl` pmh bpmhv Dnctt
i hi fhvt ckcgltp cnn ̀ hahl` clpt. obglpnw cl` thqh vcnnw. abv cnn `cic kht txtpcglh` ct c vhtxnp ba
`hah l`clpt+ {vblk`bglk. gl cl cibxlp pb fh zvbqhl cp pvgcn. gldnx`glk glphvhtp pmhvhbl5
D , C{cv`glk Nhc` Zncglpgaa cl` pmh Dnctt pmhgv vhctblcfnh dbtpt cl` h}zhltht gldxvvh` gl
pmgt cdpgbl. gldnx`glk dbxlthn ahht cl` h }zhvp ah ht5
@ , C{ cv`glk vhtdgttgbl bv c vhtdgttbvw i hctxvh ba `ci ckht5 cl` c{cv`glk txdm
c``gpgblcn hsxgpcfnh"gloxldpgqh bv bpmhv vhngha ct `hh ih ` czzvbzvgcph fw pmh D bxvp,
)06)8 6 = 4 4 7 3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
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D c t h 3 ? : 7 ) d q ) : 4 ;: 3 ) OKE @ b d x i h l p = 8 A g nh ` : ;": = "3 : Z c k h 0 0 b a 01
OXVW @HICL@
Nhc` Z ncglpgaa mhvhfw `hic l`t c pvgcn fw oxvw,
@C PH@ ? Oxnw =. 6:3:BFFG LT K HNNHV VX@I C L
! @B[@ NNZTCI XHN M, VX@I C L@CQ G @ C, VBTHLAHN@DCVB NGLC D, PBVVHTOC_VHPP T, DMC VB
@CQ G@ C, VBTHLAHN@
8= Tbxpm T hvqgdh Vbc`. Txgph 6::Ihnqgnnh. LW 33;0;Phnhzmblh? 143"41;);3::
143"41;)33;4 -ac} '
VBFFG LT K HNNHV VX@I C L! @B[@ NNZ
CVPMXV D, NHCMWPMBI C T H, HK NHVTXTCL K , PCWNBVTDBPP M, TCMCILCPMCL V, N GL@HNNI CPPMH[ G , CNZ HVP188 [ htp Fvbc`{cw. Txgph 37::
Tcl @ghkb. DC 763:3Phnhzmblh? 137"643)3:8=137"643);064 -ac}'
Nhc` Dbxlthn abv Nhc` Z ncglpgaa
)04)86=447R 3
8/8/2019 BAD CHASE RMBS -INVESTOR CLASS ACTION -FT WORTH EMPLOYEES RETIREMENT FUND V CHASE
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D c t h 3 ? : 7 ) d q ) : 4 ;: 3 ) OKE @ b d x i h l p = 8 A g nh ` : ;": = "3 : Z c k h 0 8 b a 0 1
@ H D N C V C P G B L B A T H V Q G D H F W I C G N
G . pmh xl`hvtgklh`. `hdncvh?
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