JPMorgan wins dismissal of whistleblower lawsuit

Whistle

JPMorgan Chase & Co on Friday won the dismissal of a U.S. whistleblower lawsuit filed by a former vice president who claimed the bank ignored red flags about a client's potential fraud, even after authorities exposed the massive Ponzi scheme operated by longtime JPMorgan client Bernard Madoff.

Reuters reports that U.S. District Judge Robert Sweet in New York granted the bank's motion to throw out the complaint, finding that Jennifer Sharkey had failed to demonstrate that her termination in August 2009 was in retaliation for speaking out.

Instead, he said, JPMorgan had shown there were legitimate performance-related reasons to fire her at the time.

Hit the link below to access the complete Reuters article:

JPMorgan again wins dismissal of whistleblower lawsuit in U.S.

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