Saturday, May 12, 2012

Pomerantz Law Firm Investigates $2Billion And More Trading Losses on Behalf of Investors of JPMorgan Chase

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 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.

No comments: