Chancellor Kathaleen St.J. McCormick concluded that shareholder plaintiffs failed to adequately plead that JPMorgan's directors knew of and ignored concerns about the bank's compliance with reimbursement laws.
April 17, 2024 at 03:31 PM
3 minute read
The Court of Chancery has dismissed a Caremark claim against JPMorgan Chase for its handling of unauthorized payments on digital banking platform Zelle.
Chancellor Kathaleen St. J. McCormick issued an opinion Wednesday that concluded shareholder plaintiff IMG Holding, represented by Dover firm Billion Law, hadn’t adequately pled that JPMorgan’s directors knew of and ignored concerns about the bank’s compliance with reimbursement laws.
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Kathaleen St.J. McCormick, Delaware Court of Chancery Vice Chancellor. Courtesy Photo
