Oct 10 (Reuters) - An Oklahoma court ordered JP Morgan Chase& Co to restore ExxonMobil shares, valued at about $20million, to a trust for causing substantial losses through"ill-advised" investments.
The court said the bank breached numerous fiduciary dutiesit owed as trustee by "negligently and recklessly" subjectingExxonMobil shares, owned by Carolyn S. Burford Trust, to riskyvariable prepaid forward (VPF) contracts.
The bank was ordered to restore to the trust 220,122 sharesof ExxonMobil lost under the VPF investment strategy.
(Reporting by Ashutosh Pandey in Bangalore; Editing by DonSebastian)
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Keywords: JPMORGAN DAMAGES/