JPMorgan Chase & Co (NYSE:JPM), the biggest US bank, was sued by a Louisiana police pension fund for charged securities fraud linked with the trading loss of almost $2 billion.
The Louisiana Municipal Police Employees Retirement System charged JPMorgan Chase and key officers comprising CEO Jamie Dimon misinformed investors regarding its risk management and financial situation from February 2010 to May 2012.
Louisiana police pension fund mentioned in the complaint filed in the US District Court in Manhattan on Friday that Defendants made false and misleading reports and masked material information linked with the US biggest bank’s trading practices, hedging of risk, risk management, and exposure to risk of loss.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Citigroup Inc (NYSE:C) surged +1.43% to settle at $28.31, Goldman Sachs Group, Inc. (NYSE:GS) moved up +1.96% to end at $95.66 while KeyCorp (NYSE:KEY) increased +2.06% to finish on Monday at $7.43.
JPMorgan Chase & Co (NYSE:JPM) on June 15, 2012 it increased +1.10% to the closing price of $35.03. The overall volume in the last trading session was 40.92 million shares. Its fifty two week range was $27.85-$46.49. The total market capitalization remained $133.35 billion.
JPM is ahead its 52 week low with +27.51% and lagging behind from its 52 week high price with -24.15%. JPM last month stock price volatility remained 3.26%. In its share capital JPM has 3.81 billion outstanding shares among them 3.79 billion shares have been floated in market exchange. JPM stock institutional ownership remained 74.66% while insider ownership included 0.17%.
The stock price of JPM is moving forward from its 20 days moving average with +5.29% and remote negatively from 50 days moving average with -9.23%. JPM current year earnings per share experienced an addition with +13.05% while its current quarter performance remained -20.89%. Company’s beta coefficient included 1.32. Beta factors measures the amount of market risk associated with market trade.
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