JPMorgan Asks Judge to Keep Draft U.S. Fraud Suit Secret

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JPMorgan Asks Judge to Keep Draft U.S. Fraud Suit Secret

JPMorgan Asks Judge to Keep Draft U.S. Fraud Suit Secret

Great way to draw attention..eh?


Reuters-

JPMorgan Chase & Co. (JPM) had a hearing behind closed doors with a Pennsylvania judge in its bid to keep secret a draft of a government lawsuit related to its $13 billion settlement with the U.S. as well as the identity of an employee who cooperated in a federal probe.

The company is fighting an Oct. 17 order by Judge Stanton Wettick in Pittsburgh that it release the document and the employee’s name to lawyers for the Federal Home Loan Bank of Pittsburgh, who say the material may provide a more detailed account of the U.S. Justice Department probe of JPMorgan that could be used in their lawsuit against the New York-based bank.

“FHLB has not set forth any facts supporting why it needs the draft DOJ complaint or what admissible evidence it might glean from the allegations of a complaint,” Deborah Little, a lawyer for JPMorgan, said in a court filing. “FHLB has not demonstrated any nexus between the DOJ’s investigation and the subject matter of this case.”

[REUTERS]

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