Fiduciary Duty Claims Against JPMorgan Related To Lehman Investments Continue

Fiduciary Duty Claims Against JPMorgan Related To Lehman Investments Continue

NEW YORK - A federal judge in New York on March 27 refused to dismiss claims by a pension plan's trustees that JPMorgan Chase Bank, National Association (JPM) breached its fiduciary duties under the Employee Retirement Income Security Act by continuing to hold the certain investments in Lehman Brothers as part of a securities lending program before Lehman declared bankruptcy (The Board of Trustees of the Operating Engineers Pension Trust v. JPMorgan Chase Bank, National Association, No. 09-Civ-9333, S.D. N.Y.; 2013 U.S. Dist. LEXIS 43746).

Find full version on lexis Advance®
Access this news story on lexis.com®