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The corporate flag for JPMorgan Chase flies at corporate headquarters, Monday, May 14, 2012 in New York. (Mark Lennihan/Mark Lennihan/AP)
The corporate flag for JPMorgan Chase flies at corporate headquarters, Monday, May 14, 2012 in New York. (Mark Lennihan/Mark Lennihan/AP)

Shareholders sue JPMorgan over trading loss Add to ...

JPMorgan Chase & Co. was the target of two separate lawsuits by shareholders on Wednesday, accusing the bank and its management of excessive risk that led to trading losses of at least $2 billion.

A spokesman for JPMorgan declined to comment on the lawsuits, which were filed in U.S. District Court in Manhattan, days after chief executive officer Jamie Dimon’s May 10 statement that a “failed hedging strategy” caused the massive loss over the last month.

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