Key Developments: JPMorgan Chase & Co (JPM)
54.11USD
18 Jun 2013
$0.26 (+0.48%)
$53.85
$54.03
$54.27
$53.72
13,261,393
22,787,887
$55.90
$33.10
Latest Key Developments (Source: Significant Developments)
JPMorgan Chase & Co's Private Equity Unit To Become Independent-Reuters
Reuters reported that JPMorgan Chase & Co said its private equity unit, One Equity Partners, will become independent, as the bank increases its focus on client businesses. One Equity Partners, which manages $4.5 billion of investments, will raise its next investment fund externally rather than from JPMorgan, becoming similar to stand-alone private equity firms that pool funds from a variety of investors. Full Article
JPMorgan Chase & Co And Affiliates Ceases To Be Shareholder Of Rex Minerals Ltd
Rex Minerals Ltd announced that JPMorgan Chase & Co and its affiliates has ceased to be substantial shareholder of the Company. Full Article
JPMorgan Chase & Co Declares Common Stock Dividend
JPMorgan Chase & Co announced that it has declared a quarterly dividend of 38 cents per share on the outstanding shares of the corporation's common stock, an increase from the prior quarterly dividend of 30 cents per share. The dividend is payable on July 31, 2013, to stockholders of record at the close of business on July 5, 2013. Full Article
Dimon May Leave JPMorgan Chase & Co-Reuters
Reuters reported that JPMorgan Chase & Co Chairman and CEO Jamie Dimon said he may consider leaving the bank where he has held the top post since 2005, if shareholders vote to split his duties, the Wall Street Journal reported on May 11, 2013. Full Article
Billabong International Ltd Announces Holding Interest Of JPMorgan Chase & Co And Its Affiliates
Billabong International Ltd announced that JPMorgan Chase & Co and its associates have an interest of 31,344,039 ordinary shares, representing 6.54% of the voting power in the Company. Full Article
World Titanium Resources Ltd Announces Holding Interest Of JPMorgan Chase & Co And Its Affiliates
World Titanium Resources Ltd announced that JPMorgan Chase & Co and its affiliates have an interest of 15,448,518 ordinary shares, representing 5.18% of the voting power in the Company. Full Article
U.S. Regulator To Fault JPMorgan Chase & Co Over Madoff Accounts-Reuters
Reuters reported that U.S. regulators plan to fault JPMorgan Chase & Co which served as Bernie Madoff's main bank for two decades, for failing to conduct adequate due diligence and report suspicious activity. The Office of the Comptroller of the Currency is expected to issue a cease-and-desist order against JPMorgan, which will require the U.S. bank to put an end to the alleged failures in its anti-money laundering practices. The timing of the order is uncertain but could come later this year, the source said. A fine is not expected. If the OCC is not satisfied with JPMorgan's response, it can take harsher action against the bank, including financial penalties. OCC spokesman Bryan Hubbard declined comment, as did JPMorgan spokeswoman Jennifer Zuccarelli. Full Article
JPMorgan Chase & Co Declares Preferred Stock Dividend
JPMorgan Chase & Co announced that it declared a quarterly dividend on the outstanding shares of each of the corporation's following preferred stock issues: 8.625% Non-Cumulative Preferred Stock, Series J - $215.6250 per share (equivalent to $0.5390625 per related Depositary Share). 5.50% Non-Cumulative Preferred Stock, Series O - $137.50 per share (equivalent to $0.34375 per related Depositary Share). 5.45% Non-Cumulative Preferred Stock, Series P - $175.6111111 per share (equivalent to $0.4390278 per related Depositary Share). The dividend payment date is June 1, 2013, and the dividend will be paid on June 3, 2013 to stockholders of record at the close of business on May 2, 2013. Full Article
JPMorgan Chase & Co Announces Second-Quarter Common Stock Dividend; Authorizes Share Repurchases
JPMorgan Chase & Co announced that the Board of Directors intends to increase the second-quarter common stock dividend to $0.38 per share from the current $0.30 per share, returning the dividend to highest level. The Board has also authorized the Firm to repurchase $6 billion of common equity commencing with the second quarter of this year through the end of the first quarter of 2014. Full Article
JPMorgan Chase & Co Wins Dismissal Of Most Dexia SA Mortgage Claims-Reuters
Reuters reported that JPMorgan Chase & Co has won the dismissal of nearly all of a lawsuit accusing it of misleading the Belgian-French bank Dexia SA into buying more than $1.6 billion of troubled mortgage debt. The decision made public on April 3, 2013 by U.S. District Judge Jed Rakoff in Manhattan is a victory for the U.S. bank and its chief executive, Jamie Dimon, eliminating an estimated 99% of the potential damages. In a statement, JPMorgan's law firm Cravath, Swaine & Moore said the dismissal of Dexia's claims on all but five of the 65 RMBS certificates at issue reduced potential damages to about $5.7 million from $774 million. Dexia was not immediately available for comment. A spokesman for its U.S. law firm declined to comment immediately. JPMorgan spokeswoman Jennifer Zuccarelli declined to comment. Full Article
JPMorgan must face lawsuit challenging mortgage fees
June 14 - JPMorgan Chase & Co must face a lawsuit accusing the largest U.S. bank of illegally imposing marked-up or unnecessary fees on delinquent mortgage borrowers, a federal judge ruled.
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