JPMorgan Duped Consumers To Sell Funds, Suit Says

Law360, New York (July 16, 2012, 6:33 PM EDT) -- A former JPMorgan Chase & Co. customer launched a proposed class action in New York state court Friday accusing the bank of misleading consumers and distorting broker incentives in an effort to sell more of its proprietary trading products.

Investor Alan Tralins took aim at the bank in New York State Supreme Court and alleged that in the wake of the 2007 financial crisis, the bank increased its investment sales force, equipping financial advisers with information inflating the potential returns of its proprietary funds while failing...
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