Investor Claims Against JP Morgan Can Be Brought Only By Trustee

Mealey's (September 15, 2022, 2:05 PM EDT) -- ST. LOUIS — A federal district court did not err in dismissing investor claims against JPMorgan Chase & Co. and two of its subsidiaries in a lawsuit seeking to recover losses investors incurred as victims of Thomas Petters’ $3.65 billion Ponzi scheme because each of the investors’ claims belonged to the bankruptcy trustee of Petters’ company, Petters Co., and not the investors, an Eighth Circuit U.S. Court of Appeals panel affirmed Sept. 13....