JPMorgan Chase & Co. : U.S. Labor Department Looking Into a J.P. Morgan Stable Value Fund -Reuters
07/20/2012| 06:33pm US/Eastern
The U.S. Department of Labor is looking into the possibility that J.P. Morgan Chase & Co. (JPM) acted against the interests of retirement plan participants that invested in one of its stable value funds, Reuters reported Friday, citing two people with direct knowledge of the situation.
The Labor Department's concerns involve the $1.8 billion JPMorgan Stable Asset Income Fund, according to the report. The department is looking into whether J.P. Morgan breached its fiduciary duty under the Employee Retirement Income Security Act.
Full story at http://www.reuters.com/article/2012/07/20/us-labor-jpmorgan-idUSBRE86J1B720120720
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