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Response to Tansy_Gold (Original post)

Tue Aug 27, 2013, 07:23 AM

26. JP Morgan told to pay Blavatnik $50m in damages

http://www.bbc.co.uk/news/business-23845347

JP Morgan has been ordered to pay Russian billionaire Leonard Blavatnik $50m after losing a claim for damages.

Mr Blavatnik brought the claim against the investment bank after suffering losses following the collapse of the US subprime mortgage market.

New York judge Melvin Schweitzer ruled that JP Morgan breached its contract with Mr Blavatnik's investment fund.

But he rejected a claim for negligence because at the time the investments were considered "reasonable".

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LineReply JP Morgan told to pay Blavatnik $50m in damages
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