JPMorgan Chase & Co. will pay $23 million to settle a class-action lawsuit with pension funds that accused the bank of breaching its fiduciary duty by investing their money in Lehman Brothers Holdings Inc. notes.
U.S. prosecutors urged former London-based JPMorgan Chase & Co. traders Javier Martin-Artajo and Julien Grout to surrender and face charges that they attempted to hide trading losses tied to the bank’s $6.2 billion loss on derivatives bets last year.
Two former JPMorgan Chase & Co. employees were charged by U.S. prosecutors with attempting to conceal trading losses at the largest U.S. bank last year as part of a probe of its $6.2 billion loss on derivatives bets.
Two former JPMorgan Chase & Co. employees were charged by federal prosecutors with attempting to conceal trading losses at the largest U.S. bank last year as part of a probe of its $6.2 billion loss on derivatives bets.
G. Robert Blakey, the law professor who helped draft the U.S. wiretap statute, may submit a brief supporting imprisoned hedge fund manager Raj Rajaratnam’s effort to overturn his conviction for insider trading, a U.S. appeals court ruled.
JPMorgan Chase & Co., the biggest U.S. bank, said it’s under federal criminal investigation for practices tied to sales of mortgage-backed bonds that the Justice Department has already concluded broke civil laws.
Lehman Brothers Holdings Inc. and its creditors’ committee filed a complaint yesterday in bankruptcy court against JPMorgan Chase Bank NA , alleging that the New York-based bank “stripped a faltering Lehman Brothers of desperately needed cash” in the days and weeks before the commencement of Lehman’s bankruptcy in September 2008.
Market-moving trades by JPMorgan Chase & Co.’s chief investment office probably will force regulators to seek more detail on banks’ derivatives positions to help them distinguish risk management from speculation.
JPMorgan Chase & Co. Chief Risk Officer John Hogan is returning to the bank in a new role after taking almost five months off and may decide to leave the firm altogether later this year or next, Chief Executive Officer Jamie Dimon told employees in a memo today.