A lawsuit filed against a settlement between JPMorgan Chase & Co. (JPM – Analyst Report) and the U.S Department of Justice (DOJ) was recently dismissed by U.S Federal Judge Beryl A. Howell. The lawsuit, filed by non-profit group Better Markets, was turned down by Howell due to lack of substantial evidence of any harm caused.
Though the lawsuit has been officially dismissed, we believe that Better Markets’ claims were not completely baseless. While the concerned settlement had been released in public, it was not filed in the federal court. Moreover, factual details related to the damage done or the individual held responsible had not been stated. We believe there should be enhanced transparency and lawful review in litigations involving violation of civil interests.
Read the full article by Zacks Equity Research here.