U.S. District Judge Jed Rakoff of the Southern District of New York dismissed a shareholder class action suit concerning JPMorgan’s prior work for Jeffrey Epstein on Wednesday, finding that the plaintiffs failed to make a demand on the bank’s board before filing suit or show that doing so would be futile.

The plaintiffs filed suit in May against JPMorgan CEO Jamie Dimon and a group of the bank’s current and former directors and executives, arguing that JPMorgan knew of Epstein’s conduct long before his arrest but failed to take action. JPMorgan terminated its relationship with Epstein in 2013.

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