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...
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