JPMorgan Chase Faces Lawsuit Over $6.2B London Whale Scandal and BioFuel Energy Explodes after Greenlight Capital Proposal

JPMorgan Chase & Co. (NYSE: JPM) will face a lawsuit from shareholders accusing it of securities fraud. The company is accused of misleading shareholders about its ability to manage risk. This surfaced when it lost $6.2 billion in the "London Whale" scandal. This loss was linked to trades by Bruno Iksil, a French national who had worked in a bank office in London. U.S. District Judge George Daniels in Manhattan said shareholders could pursue claims that JPMorgan, Chief Executive Jamie Dimon and former Chief Financial Officer Douglas Braunstein knowingly hid the increased risks that JPMorgan’