JPMorgan Shareholders Sue Dimon Over $2 Billion Loss
This article is for subscribers only.
JPMorgan Chase & Co. shareholders sued the bank and Chief Executive Officer Jamie Dimon in two separate cases over the company’s $2 billion trading loss.
An Arizona trust filed a securities-fraud lawsuit in which it seeks to represent all investors who lost money on the stock as a result of alleged misstatements by the bank about its losses. In the second case, an individual investor asked for damages on behalf of the company from Dimon, the bank’s board and other executives. Both suits were filed late yesterday in Manhattan federal court.