JP Morgan hit with a lawsuit

City A.M. Reporter
A MISSOURI pension fund has sued JP Morgan Chase & Co executives and board members over $6.2bn (£4bn) in trading losses that were revealed last year, citing a recent US Senate report that criticised the bank’s management for failing to catch the bad trades.

The Police Retirement System of St. Louis filed the lawsuit against chief executive Jamie Dimon, as well as other executives and board members, in State Supreme Court in Manhattan yesterday.