NEW YORK, May
11, 2012 (GlobeNewswire via COMTEX) -- Pomerantz Haudek Grossman & Gross
LLP is investigating claims on behalf of investors who purchased JPMorgan Chase
& Co. ("JPMorgan" or the "Company") securities. Such
investors are advised to contact Rachelle R. Boyle at rrboyle@pomlaw.com or
888-476-6529, ext. 237.
The
investigation concerns whether the Company misrepresented the nature of and
risks associated with a massive credit derivative position implemented by
JPMorgan's Chief Investment Office ("CIO"). In a Securities and
Exchange Commission filing dated May 10, 2012, JPMorgan revealed that it has
incurred over $800 million in trading losses from the CIO's positions, and may
face more than a billion dollars more in losses as it continues to
mark-to-market the CIO's "synthetic credit portfolio." Among other
things, Pomerantz is investigating when JPMorgan became aware of losses and
whether the position was a bona fide hedge, as was stated to investors.
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