JPMorgan Chase has blamed its $400m quarterly loss on $9.2bn legal costs, "saying a strong underlying performance" had been "marred by large legal expense". The results, which were announced today (11 October), are the first time the bank has posted a quarterly loss in more than eight years.
October 11, 2013 at 08:46 AM
1 minute read
The original version of this story was published on Legalweek
JPMorgan Chase has blamed its $400m quarterly loss on $9.2bn legal costs, “saying a strong underlying performance” had been “marred by large legal expense”.
The results, which were announced today (11 October), are the first time the bank has posted a quarterly loss in more than eight years.
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