$6B 'London Whale' Loss Lands JPMorgan In Hot Water Again

Law360, New York (April 15, 2013, 7:00 PM EDT) -- JPMorgan Chase & Co. on Monday was hit with another class action over its $6.2 billion “London Whale” loss, with investors citing a recent U.S. Senate report alleging the bank and CEO Jamie Dimon concealed information about the infamous derivatives trades from investors.

The ill-fated trades by London-based employee Bruno Iksil earned him the nickname “the London Whale” after they came to light in May 2012. The suit, brought in New York state court by lead plaintiff The Police Retirement System of St. Louis, mirrors previous...
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