Thursday, 1 November 2012

JPMorgan sues London Whale's boss

NEW YORK (CNNMoney) -- The harpoons are out at JPMorgan. The bank is pursuing legal action against Javier Martin-Artajo, the former boss of the trader who lost the bank billions of dollars earlier this year and came tobe known as the "London Whale." Greg Campbell, a lawyer forMartin-Artajo, said Wednesday that JPMorgan had filed a lawsuit in the United Kingdom against his client, who supervised Iksil in the bank's chief investment office in London.Martin-Artajo has not yet been served with the complaint and does not know the specifics of the allegations, Campbell said.