A class-action lawsuit against JP Morgan Chase over multi-billion dollar losses racked up by its UK-based traders, including one nicknamed the “London Whale”, is being led by a pension fund from Sweden and three from America.
US District Judge George Daniels ruled this week that claims faced by JP Morgan in New York should be combined into a class-action suit, a legal device that allows other investors who claim they are owed compensation to join.
The chief plaintiffs include Sjunde AP-Fonden, a Swedish state pension fund, as well as the Arkansas Teacher Retirement System, the Ohio Public Employees Retirement System and the Oregon Public Employee Retirement Fund.
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