Amaranth gets green light to sue JPMorgan

Fri Nov 14, 2008

This week, a state court ruled that Amaranth Advisors could proceed in its $1 billion lawsuit against JPMorgan, in which the failed hedge fund has alleged defamation and breach of contract. Justice Richard Lowe of the State Supreme Court has allowed the breach of contract suit to proceed while dismissing five other causes of action.

The complaint, filed on November 13, 2007, in the New York State Supreme Court in Manhattan, claimed that JPMorgan, as Amaranth’s clearing broker and sole futures commission merchant, unfairly took advantage of the hedge fund firm during its natural-gas...

ISSN: 2151-1845 / CDC10004H

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