JPMorgan Ducks Madoff Investor Suit In 2nd Circ.

Law360, New York (June 6, 2011, 4:13 PM EDT) -- The Second Circuit on Monday refused to overturn a district court's decision to toss a suit filed against JPMorgan Chase & Co. by an investment company that lost $12.8 million to Bernard L. Madoff's Ponzi scheme.

A three-judge panel affirmed the lower court's decision to dismiss MLSMK Investment Co.'s claims for aiding and abetting breach of fiduciary duty, commercial bad faith and negligence, finding the plaintiff had failed to adequately establish that JPMorgan knew about Madoff's fraud. The appeals court plans to address the plaintiff's claims...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.