JPMorgan wins currency cases

JPMorgan Chase & Co yesterday won the dismissal of lawsuits accusing them of overcharging clients for trading currencies. US District Judge Denise Cote threw out a lawsuit that accused the largest US bank by assets of breaching a fiduciary duty to custodial clients by charging “hidden and excessive mark-ups” on currency trades.
The JPMorgan lawsuit was led by the Louisiana Municipal Police Employees’ Retirement System.