Judge Kicks JPMorgan Suit By 'Professional Plaintiff'

Law360, New York (September 23, 2008, 12:00 AM EDT) -- A federal judge in Manhattan has thrown out a derivative action against JPMorgan Chase & Co. over the subprime mortgage mess, saying the shareholder who launched the lawsuit was a "professional plaintiff" who was “appallingly ignorant” of the cases to which he lent his name.

In an order handed down Monday, Judge Denise Cote of the U.S. District Court for the Southern District of New York said shareholder Robert Garber could not be trusted to protect the interests of other shareholders or the bank in the...
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