Market Watch-
The Investment Losses and Shareholder Rights Law Firm of Gilman Law LLP is investigating potential claim for Breach of Fiduciary Duty on behalf of JPMorgan Chase & Co. Shareholders (“JPMorgan” or the “Company”) JPM -1.79% involving the 2 billion dollar trading loss. According to a May 10, 2012 SEC filing, JPMorgan stated that the company’s “CIO has had significant market-to-market-losses in its synthetic credit portfolio, and this portfolio has proven to be riskier, more volatile and less effective as an economic hedge than the firm previously believed.” Additionally, a May 11, 2012 Wall Street Journal article indicates that the “losses stemmed from wagers gone wrong in the bank’s Chief Investment Officer and involved losses in derivative positions.” Following this news, the company’s shares plummeted in value.
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