Legal Opinion
Wandel v. James
Appellate Division of the Supreme Court of the State of New York
Decided January 14, 2016No. 651830/12 15973 15972PublishedCited by 4 opinions
1Opinion of the Court
Order, Supreme Court, New York County (Jeffrey K. Oing, J.), entered January 17, 2014, which granted, without prejudice, defendants’ motion to dismiss the complaint for failure to show that pre-suit demand on the board of directors of nominal defendant JPMorgan Chase & Co. was excused, unanimously affirmed, without costs.
In 2012, in what became known as the “London Whale” debacle, JPMorgan’s synthetic credit portfolio (SCP), managed by traders in its Chief Investment Office (CIO), lost at least $6.2 billion as a result of high-risk trading activities, despite public representations that the…
2Cases cited11 opinions
- Rales v. Blasband Ex Rel. Easco Hand Tools, Inc.Supreme Court of Delaware · 1993
- Stone v. RitterSupreme Court of Delaware · 2006
- In Re Caremark International Inc. Derivative LitigationCourt of Chancery of Delaware · 1996
- In Re Citigroup Inc. Shareholder Derivative LitigationCourt of Chancery of Delaware · 2009
- Wood v. BaumSupreme Court of Delaware · 2008
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3Cited by4 opinions
- Wietschner Ex Rel. JPMorgan Chase & Co. v. DimonAppellate Division of the Supreme Court of the State of New York · 2016
- Asbestos Workers Philadelphia Pension Fund v. BellAppellate Division of the Supreme Court of the State of New York · 2016
- Deckter v. AndreottiAppellate Division of the Supreme Court of the State of New York · 2019
- MBIA Ins. Corp. v. Credit Suisse Sec. (USA) LLCNew York Supreme Court · 2017