JPMorgan sued for allegedly defrauding investors
The New York Attorney General has sued JPMorgan Chase for allegedly defrauding investors who lost more than $20bn (£12bn) on mortgage-backed securities sold by Bear Stearns.
JPMorgan bought the investment bank Bear Stearns in March 2008.
It said that it would contest the allegations.
This is the first action to come out of a working group created by US President Barack Obama looking into the causes of the 2008 financial crash. Click below for full story -
0 Comments
You can be the first one to leave a comment.