Shareholder lawsuits add to fallout from JPMorgan loss
- Share via
And now for the litigation.
Two JPMorgan Chase & Co. shareholders have sued the bank over the $2-billion trading loss disclosed last week, the Wall Street Journal reported.
The suits, filed late Tuesday, claim executives misled investors about JPMorgan’s risky bets and potential exposure, according to the report.
The shareholder suits follow news of an FBI probe of JPMorgan’s loss in complicated derivative trading conducted by the bank’s Chief Investment Office.
JPMorgan has faced increased scrutiny by lawmakers and regulators since the disclosure last Thursday.
Investors initially punished the stock, sending it 12% lower over Friday and Monday. But the bank’s stock rose Tuesday and continued its climb Wednesday morning.
JPMorgan shares added 42 cents, or 1.2%, to $36.66 in early trading on Wall Street.
RELATED:
Stocks rise in early trading on Wall Street
Newest housing data highlights improvements
U.S. home loan regulator opposes California foreclosure bills
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
