Traders from across the U.S. are banding together to accuse J. P. Morgan Chase of manipulating precious metals markets for years.
A federal judge has put on hold, for at least six months, a civil lawsuit by hedge fund manager Daniel Shak and other accusing J.P. Morgan Chase of rigging the precious metals market, citing an ongoing, related criminal investigation into the bank
The move comes days after a lawyer sought permission to reopen questioning of two former J. P. Morgan traders and the bank's top metals trader and after one of those traders pleaded guilty in Connecticut federal court.
The secret guilty plea in October by a former commodity trader at J. P. Morgan Chase, who admitted that he rigged precious metals markets, drew the attention of a lawyer who has already accused the bank of similar conduct.
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The agreement concerns investors who hold bonds issued by Cofina, slashing the debt by $17.5 billion.
Sens. Elizabeth Warren and Bernie Sanders introduce a bill that would essentially wipe out tens of billions of dollars of Puerto Rico’s $73 billion in outstanding debt.
The CEO was referring to the tsunami of arbitration claims claiming breach of fiduciary duty, negligence and fraud in connection with several bond funds managed by UBS
Her lawsuit says the hedge fund violated equal-pay laws, engaged in gender discrimination and retaliated by denying a promotion after she reported her superior for harassment.
Shares of Procter & Gamble rise Thursday after Trian Partners' Nelson Peltz indicates his proposal for reorganizing the company is gaining traction.
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