{"id":5422,"date":"2013-04-15T00:00:00","date_gmt":"2013-04-15T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/04\/ctw_investment_group_wants_jpm"},"modified":"2022-03-10T16:33:51","modified_gmt":"2022-03-10T22:33:51","slug":"ctw-investment-group-wants-jpm","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ctw-investment-group-wants-jpm\/","title":{"rendered":"CtW Investment Group Wants JPMorgan Chase Shareholders To Vote Against Re-Electing Four Board of Directors"},"content":{"rendered":"\n

CtW Investment Group has announced plans to file a document with the Securities and Exchange Commission that would press shareholders to vote against reelecting four JPMorgan Chase & Co. (JPM) <\/a>board of directors: James Crown, Ellen Futter, Laban Jackson, and David Cote. The group, which represents pension funds that together hold approximately 6 million of the financial firm\u2019s shares and is labor organization Change to Win\u2019s advisory arm, also intends to make its request in writing to the shareholders. <\/p>\n

CtW believes that these directors can no longer be depended on to deal with oversight failures and blames most of them for poor risk management oversight that they say allowed the trading fiasco to happen. Meantime, JPMorgan is seeking support among its biggest shareholders. It claims that the board isn\u2019t to be blamed for the \u201cLondon Whale,\u201d which involved its operation in England making risky bets and losing nearly $6 billion in losses. <\/p>\n

Meantime, in a report on the global investment banking industry, JPMorgan\u2019s analysts pointed to Goldman Sachs (GS) and Deutsche Bank (DB) as examples of Tier 1 investment banks to stay away from. It described this tier of banks as \u201cun-investable, with their viability in doubt. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

CtW Investment Group has announced plans to file a document with the Securities and Exchange Commission that would press shareholders to vote against reelecting four JPMorgan Chase & Co. (JPM) board of directors: James Crown, Ellen Futter, Laban Jackson, and David Cote. The group, which represents pension funds that together hold approximately 6 million of […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3958],"tags":[],"class_list":["post-5422","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-jp-morgan-chase"],"yoast_head":"\nCtW Investment Group Wants JPMorgan Chase Shareholders To Vote Against Re-Electing Four Board of Directors — Investor Lawyers Blog — April 15, 2013<\/title>\n<meta name=\"description\" content=\"CtW Investment Group has announced plans to file a document with the Securities and Exchange Commission that would press shareholders to vote against — April 15, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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