J.P. Morgan Chase & Co. (NYSE:JPM) has been accused in a lawsuit by Petters Group regarding Polaroid Holding.

JP Morgan Chase & Co. (NYSE:JPM) stocks were at 42.36 at the end of the last day’s trading. There’s been a 9.4% change in the stock price over the past 3 months.

New Legal Action Against J.P. Morgan Chase & Co. (NYSE:JPM)

J.P. Morgan Chase & Co. (NYSE:JPM) Chase & Co. and others were accused in a lawsuit by Thomas J. Peters for getting $300 million from a scheme on buying Polaroid Holding Company.

The trustee for Petters Group Worldwide LLC. filed a complaint in federal court in Minnesota that J.P. Morgan Chase & Co. (NYSE:JPM) Chase and others received more than $240 million by selling their stakes in Polaroid.

According to the complaint, J.P. Morgan Chase & Co. (NYSE:JPM) received “in excess of $240 million”. J.P. Morgan Chase & Co. (NYSE:JPM) was the financial adviser to Polaroid and thus earned about $40 million as interest and fees.

After Petters acquired it, J.P. Morgan Chase & Co. (NYSE:JPM) also received $185 million in credit.

If you’re looking to make a move on the JP Morgan Chase & Co. (NYSE:JPM) stocks, be sure you take a look at this analyst advice, from a broad range of industry specialists:

We’ll be keeping a close eye on the JP Morgan Chase & Co. (NYSE:JPM) stock level for developments over the next few weeks.