NEW YORK—Two shareholder lawsuits were filed late Tuesday against J.P. Morgan Chase JPM +1.74% & Co. and its top executives over the revelation last week that the bank had suffered more than $2 billion in trading losses.
The lawsuits alleged that the bank's top executives, including Chief Executive Jamie Dimon, misled investors about the company's investment exposure and the potential risk of loss on those bets.
"These derivative bets went horribly wrong, resulting in billions of dollars in lost capital for the company and billions more in lost market capitalization for J.P. Morgan shareholders," one of the lawsuits said.
- The Wall Street Journal
