JPMorgan Details Investigations Over Libor, $5.8B Loss

Law360, New York (August 9, 2012, 6:46 PM EDT) -- JPMorgan Chase & Co. on Thursday provided fresh details on worldwide probes it's facing over a pair of high-profile scandals — alleged collusion among financial institutions to suppress the Libor and a loss of $5.8 billion blamed on its chief investment office.

Some of the requests had been reported previously, but the filing threw into stark relief JPMorgan's potentially dire straits. In addition to regulatory pressure, JPMorgan is one of many banks tangled in extensive litigation over alleged efforts to drive down Libor benchmark rate. Trillions...
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