DOJ Launches Probe Into JPMorgan's $2B Trading Loss

Law360, New York (May 15, 2012, 3:52 PM EDT) -- The U.S. Department of Justice has opened an investigation into JPMorgan Chase & Co.'s $2 billion trading loss, news that broke Tuesday morning after shareholders refused calls to strip CEO Jamie Dimon of his title as chairman of the board.

The DOJ's probe is still in its infancy, and investigators have no clear indication that the besieged bank broke any laws in losing more than $2 billion over the past six weeks, according to a Justice Department official who spoke on the condition of anonymity because...
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