More Bad News For JPMorgan, J.C. Penney's Coupon Fail, Greek Banks In Trouble And More

Wednesday, May 16, 2012

Shareholders File Suits Over $2 Billion JPMorgan Loss

That didn't take long. Less than a week after JPMorgan Chase disclosed massive trading losses, investors who own bank stock have filed three different lawsuits alleging that bank officers failed to disclose information about the bad trade, which led to a sharp decline in the share price.

The shareholder suits, filed in U.S. District Court in Manhattan this week, claim that the bank misled investors ahead of its surprise announcement last Thursday that it lost $2 billion.

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BLOG POSTS

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	Rana Florida: Your Start-Up Life: How to Get Flexibility at Work? Feel free to let your boss know that a new study released by the Center for Disease Control, National Institutes of Health, and American Cancer Society has confirmed what many have long suspected: that lengthy car commutes are terrible for your health.
	Jane White: What Makes You Madder: JPMorgan's Recklessness or the Fed's Cluelessness? We not only need to rein the banks in but we've got to delegate the responsibility for measuring household wealth -- and hopefully come up with ways to boost it -- to an agency that's more in touch with "the 99%."