We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

JPMorgan Tries To Harpoon 'London Whale' ERISA Suit

Law360, San Diego (March 3, 2015, 7:10 PM EST) -- JPMorgan Chase & Co. on Tuesday urged a New York federal judge to dismiss an employee class action claiming their retirement plan tanked after the $6 billion “London Whale” fiasco, arguing that disclosing the allegedly risky trading earlier would have caused the stock to fall farther.

The current and former employees accuse JPMorgan of violating the Employee Retirement Income Security Act by continuing to allow investments in the company's stock even though they knew it was being artificially inflated due to their failure to disclose speculative...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.