Losses lawsuits
Our monthly review of fraud management failure, human error and other operational hazards at financial firms around the world, distilled from the First database of operational risk loss events and case studies
JP Morgan/Deutsche Bank/ Bank of America
A federal judge rejected a motion filed in mid-December by a group of banks that sought the dismissal of a WorldCom-related lawsuit. The ruling gives the go-ahead for aggrieved WorldCom shareholders to head to trial with their case against WorldCom’s bankers, including Deutsche Bank, JP Morgan Chase and Bank of America. The banks previously rejected a
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