JP Morgan Sued Over Investments With Madoff

JP Morgan Chase has been sued over its alleged dealings with Bernard Madoff. According to Bloomberg news, JP Morgan was aware of Madoff’s Ponzi scheme, but did not disclose the scheme in order to protect its own interests.

According to the lawsuit, JP Morgan had investors put money into two hedge funds that invested with Madoff. The bank then invested $250 million of its own money into the funds. However, the JP Morgan began to withdraw its own money without informing its clients.

The lawsuit was filed by MLSMK Investments. The complaint alleges that JP Morgan, “began to grow suspicious of Madoff’s results and embarked on a due diligence investigation of Madoff’s operations.” The investigations concluded that Madoff could not possibly be making the returns he was claiming, and therefore, JP Morgan began to liquidate its position.

The lawsuit is seeking $12.8 million in compensatory damages as well as punitive damages.

Disclaimer: The foregoing is general legal information only and not intended to serve as legal advice or a substitute for legal advice. If you have been injured or damaged due to stock fraud go to www.ContingencyCase.com to see if there is a lawyer or attorney in your local area who is willing to take your case on a contingency fee basis. ContingencyCase.com is an online legal directory that allows Attorneys to advertise their availability to take all kinds of cases on a contingency fee basis (for example personal injury, eminent domain, contract cases, partnership disputes, etc.). Please note there are no guarantees that any attorney or lawyer will take your case. Copyright 2009 ContingencyCase.com – All Rights Reserved.

Former GOP Presidential Candidate To Testify In Wrongful Termination Suit

Former Presidential candidate and Massachusetts Governor will appear in court later this year in an unlawful termination lawsuit. The suit alleges that a Romney appointee was unfairly forced out of office.

In 2003, Governor Romney appointed William Monahan as Chairman of the Massachusetts Civil Service Commission. He was ordered to resign less than a month later. The reason given was that the Romney Administration was concerned over a Boston Globe story that was set to run detailing a real estate transaction between Monahan and an alleged Mafioso.

Specifically, the suit alleges that Romney appointed a replacement for Monahan without providing him with proper notice and an opportunity to be heard. The Romney Administration has responded by arguing that Monahan resigned and was not forced out of office.

If you have been unlawfully dismissed from your employment contact an attorney. An attorney will be able to inform you of your legal rights and protect your interests.

Disclaimer: The foregoing is general legal information only and not intended to serve as legal advice or a substitute for legal advice. If you have been injured or damaged due to wrongful termination go to www.ContingencyCase.com to see if there is a lawyer or attorney in your local area who is willing to take your case on a contingency fee basis. ContingencyCase.com is an online legal directory that allows Attorneys to advertise their availability to take all kinds of cases on a contingency fee basis (for example personal injury, eminent domain, contract cases, partnership disputes, etc.). Please note there are no guarantees that any attorney or lawyer will take your case. Copyright 2009 ContingencyCase.com – All Rights Reserved.

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