JPMorgan Execs At Fault For $5.8B Trading Loss, Suit Says

Law360, New York (October 2, 2012, 2:03 PM EDT) -- A Michigan pension plan slapped both former and current JPMorgan & Chase Co. officials with a shareholder derivative suit in New York federal court on Friday over the bank's ill-fated credit derivative bets that cost it at least $5.8 billion.

The suit, filed by the Wayne County Employees' Retirement System, claims JPMorgan officials — including chairman and CEO Jamie Dimon and the bank's board of directors — breached their fiduciary duties by allowing the company's London-based chief investment office to take risky credit derivative positions that...
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Case Information

Case Title

Wayne County Employees' Retirement System v. Dimon et al

Case Number



New York Southern

Nature of Suit

Stockholders Suits


George B. Daniels

Date Filed

September 28, 2012

Law Firms


UK Financial Services

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