J.P. Morgan Sued Over Enron Holdings
J.P. Morgan Chase & Co. was sued by shareholders who accuse the second-biggest U.S. bank of breaking securities laws by failing to disclose the amount of money it might lose because of loans made to Enron Corp.
The class-action suit, filed in U.S. District Court in Manhattan, says J.P. Morgan Chase was reckless when it issued a public statement Nov. 28 that didn’t fully disclose its risk and loss exposure to the Houston-based energy trader, which filed for Chapter 11 bankruptcy protection Dec. 2.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
