JP Morgan Scholarship Fund Comes Under Fire

Law360, New York (May 14, 2007, 12:00 AM EDT) -- A shareholder of JP Morgan Chase & Co. has called the bank’s $5 million donation to an African-American scholarship fund “a looting of shareholder assets.”

At Tuesday’s annual shareholder meeting, the National Legal and Policy Center will introduce a resolution that takes issue with JP Morgan’s decision to formally apologize for its involvement with slavery.

The proposal will be presented by Dineen Borelli, a fellow of initiative Project 21, and will be heard in spite of the efforts of JP Morgan, which appealed to the U.S....
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