Shareholder lawsuit against JPMorgan over ‘London Whale’ to proceed

JPMorgan Chase faces allegations that it knowingly hid risks it was taking with Bruno Iksil

It looks like Captain Ahab and his merry band of JPMorgan Chase stockholders are going to get a chance to tackle the “London Whale.”

On March 31, U.S. District Judge George Daniels in Manhattan ruled that the financial institution’s shareholders can proceed with a lawsuit against JPMorgan Chase, CEO Jamie Dimon, and former CFO Douglas Brounstein over allegations that they knowingly hid risks that the Chief Investment Office (CIO) was taking in early 2012.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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