JPMorgan Investors Win Cert. In ‘London Whale’ Suit
Law360, Los Angeles (September 29, 2015, 9:50 PM EDT) -- JPMorgan will have to face a class of potentially hundreds of thousands of investors accusing the bank of misleading them about the riskiness of derivatives trading before the $6 billion “London Whale” trading fiasco, a New York federal judge ruled Tuesday.
A New York federal judge shrugged off on Tuesday JPMorgan's contentions that some of the class members who bought their shares after the bank partially disclosed some losses were differently situated. (Credit: AP) The investors, led by a group of retirement funds, won their bid for certification Tuesday after a hard-fought seven-month battle when U.S. District Judge George B. Daniels...
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