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Executives at JPMorgan Chase, including CEO Jamie Dimon and CFO Douglas Braustein, have been hit with two investor lawsuits charging them with misleading shareholders about the $2 billion bomb. “These derivative bets went horribly wrong, resulting in billions of dollars in lost capital for the company and billions more in lost market capitalization for J.P. Morgan shareholders,” said one of the suits, which only adds to the bank’s myriad current issues. One of the complaints singles out April 13, the day Dimon insisted on a conference call that worries about the bets were “a complete tempest in a teapot.” Expect those woefully inadequate words to keep coming up.
