JPMorgan Shelves $15B Share Buyback Program

Law360, New York (May 21, 2012, 6:39 PM EDT) -- JPMorgan Chase & Co. on Monday suspended a planned $15 billion share buyback program less than two weeks after its announcement of a surprise $2 billion trading loss shocked financial markets.

At the Deutsche Bank Global Financial Services Investor Conference, JPMorgan CEO Jamie Dimon said that following the May 10 loss, the company would hold off on a $15 billion share buyback plan that it had put into place after passing Federal Reserve stress tests in February.

Dimon said the company had “made a commitment to...
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