A federal judge has dismissed a shareholder lawsuit accusing JPMorgan Chase Chief Executive Jamie Dimon and his board of directors of ignoring red flags surrounding disgraced former client Jeffrey Epstein.
In a Wednesday evening decision, U.S. District Judge Jed Rakoff said shareholders led by Miami and Pittsburgh pension funds failed to first ask the bank’s board directly to address their concerns, or show it would be futile to do so, before suing.
Source: Jamie Dimon, JPMorgan board defeat shareholders’ Jeffrey Epstein lawsuit | Reuters
