• Company
  • Description
  • Recovery Amount
  • JPMorgan
  • In re JPMorgan Chase & Co. Securities Litigation
  • $150 million


Southern District of New York

G&E represented the co-lead plaintiff in pursuing securities fraud claims under Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, against J.P. Morgan Chase & Co. (“JPM”) and certain senior executives of JPM in the very high profile “London Whale” proprietary trading scandal that roiled the credit markets and caused JPM shareholders to suffer more than a billion dollars in damages. In issuing its decision denying defendant’s motion to dismiss, the Court reasoned that plaintiffs had adequately alleged that materially false and misleading statements were issued by JPM, its CEO (Jamie Dimon) and its CFO (Douglas Braunstein).  In December 2015, just months after the Court granted in full the plaintiffs’ motion class certification, lead plaintiffs reached a settlement calling for an immediate $150 million cash payment.