JPMorgan Claims Trump's $5 Billion Lawsuit Wrongly Names CEO Dimon as Defendant

Deep News
02/20

JPMorgan Chase and its CEO Jamie Dimon stated in a court filing submitted on Thursday that former U.S. President Donald Trump improperly included Dimon as a defendant in a $5 billion lawsuit against the bank, aiming to move the case to a state court. According to the court documents, Trump's allegations of unfair trading practices by Dimon do not apply to bank executives who are directly supervised by federal banking regulators. Trump filed the lawsuit in his personal capacity in January at the Miami-Dade County Court in Florida. He accused JPMorgan of trade libel after the bank closed some of his accounts in 2021, shortly after the end of his first term, and allegedly placed him on a banking "blacklist," seeking $5 billion in damages. JPMorgan and Dimon denied the allegations in the court filing, stating they were unaware of any blacklist. The lawsuit was filed in the federal district court in Miami, where JPMorgan and Dimon are attempting to transfer the case to a federal court in Manhattan, after initially proceeding in the local court. Corporate defendants generally prefer to have cases heard in federal courts. A spokesperson for Trump's legal team issued a statement claiming that the bank and Dimon removed Trump, his family, and their businesses from bank accounts and placed them on a blacklist. "The defendants committed these violations solely because of the President's 'America First' policies, which saved our nation. President Trump is standing up for those wrongly removed from their accounts by JPMorgan and its associates and will work to ensure the case receives a fair and proper adjudication." This lawsuit against JPMorgan is one of at least six cases Trump has filed in his personal capacity since returning to the presidency.

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