Law Firm Criden & Love Announces Investigation of JPMorgan Chase's Marketing of Mutual Funds and Strategic Portfolios
MIAMI, July 12, 2012 /PRNewswire/ -- Law firm Criden & Love, P.A. announced today that it is investigating JPMorgan Chase & Co. ("JPMorgan") in connection with the sale of JPMorgan mutual funds and/or Chase Strategic Portfolios to bank clients.
On July 12, 2012, a New York Times article publicized that regulators, including the including the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Manhattan district attorney and officials in New Jersey and Delaware, have launched inquiries into JPMorgan's sales practices with regard to its mutual fund business. The inquiries are directed toward JPMorgan's Chase Wealth Management division.
The article reported that "[s]everal brokers told The New York Times that they had been encouraged to favor JPMorgan funds, and they described a broader culture that emphasized sales over client needs. Also, in the marketing materials of one major offering, JPMorgan published hypothetical performance results, even though actual returns existed, according to internal bank documents reviewed by The Times. In each case, the actual gains were lower than the theoretical results."
If you are a bank, brokerage, private wealth or asset management client who invested in JPMorgan mutual funds or Chase Strategic Portfolios, we would like to speak with you about potential claims that you might have. Please contact Michael Criden toll free at 855-243-3999 or e-mail us at [email protected].
Criden & Love is a litigation firm of experienced trial lawyers that devotes the majority of its practice to antitrust, securities and consumer-fraud class action litigation and complex commercial litigation.
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CONTACT:
Criden & Love, P.A.
7301 S.W. 57th Court, Suite 515
South Miami, FL 33143
Tel: (305) 357-9000
Toll Free: (855) 243-3999
Fax: (305) 357-9050
SOURCE Criden & Love, P.A.
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