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JPMorgan Ordered to Pay More Than $4 Billion to Widow and Family
By Thomas Korosec, Bloomberg, September 28, 2017
This post has been viewed 2,948 times.
This post has been viewed 2,948 times.
JPMorgan Chase & Co. was ordered by a Dallas jury to pay more than $4 billion in damages for mishandling the estate of a former American Airlines executive, but the verdict will probably be knocked down on appeal.
Jo Hopper and two stepchildren won the probate court verdict over claims that JPMorgan mismanaged the administration of the estate of Max Hopper, who was described as an airline technology innovator in a statement issued by the family’s law firm.
Fiduciary Duty
The jury found that the bank committed fraud, breached its fiduciary duty and broke a fee agreement, according to court papers.
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