The Traderszone Network

Published in TZ Latest News 16 June, 2015 by The TZ Newswire Staff

JPMorgan wins dismissal of shareholder lawsuit over London Whale

JPMorgan Chase & Co (JPM.N) officials including Chief Executive Officer Jamie Dimon do not have to face a shareholder lawsuit claiming they failed to properly investigate the “London Whale” trading scandal that caused $6.2 billion in losses, a federal appeals court ruled on Tuesday. The 2nd U.S. Circuit Court of Appeals in New York said a lower court judge did not abuse his discretion by dismissing the lawsuit by shareholder Ernesto Espinoza.

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