JPMorgan Chase Defeats Iran Hostage Crisis Class Action

Law360 (March 1, 2021, 9:57 PM EST) -- A New York federal judge has granted JPMorgan Chase's motion to dismiss a proposed class action filed by victims of the 1979 Iran embassy hostage crisis, saying the statute of limitations has expired for their claims against its predecessor, Chase Manhattan Bank.

Three former hostages and their relatives accused Chase Manhattan's former CEO David Rockefeller of conspiring to bring the Shah of Iran into the U.S. after he was overthrown during the country's 1979 revolution, leading to the hostages' capture at the U.S. Embassy in Tehran. And they accused Rockefeller of sabotaging hostage release negotiations, which prolonged their captivity and torture....

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