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by ddtaylor
744 days ago
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Anyone can file a lawsuit for anything: * Casey v. Citibank (2010): In this case, a customer named Paul Casey filed a
lawsuit against Citibank claiming that the bank owed
him the money for the bailout it received during the
financial crisis. Casey argued that because he was
a taxpayer, he was entitled to a share of the funds
Citibank received from the government. The court
dismissed the case, stating that taxpayers do not
have a direct claim to bailout funds allocated to
private companies.
* Bernstein v. JPMorgan Chase (2012):
Richard Bernstein filed a lawsuit against JPMorgan
Chase, alleging that the bank had "caused" the stock
market crash of 2008 and subsequently the loss of
his investments. He claimed that JPMorgan's actions
led to a decrease in the value of his retirement
accounts. The court dismissed the case, ruling that
Bernstein's claims were speculative and lacked
concrete evidence of causation and direct harm.
* Liversidge v. Goldman Sachs (2013): Alan Liversidge sued Goldman Sachs for what he called
"psychological damages" stemming from the bank's
involvement in the financial crisis. Liversidge
claimed that the bank's actions had caused him
emotional distress and anxiety, leading to various
health problems. The court found the claims to be
without merit, as there was no legal basis for
recovering damages for generalized emotional distress
caused by market fluctuations.
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"Former Bank Employee Pleads Guilty to Manipulating U.S. Treasury Securities Prices" - https://www.justice.gov/opa/pr/former-bank-employee-pleads-g...
"JPMorgan Chase & Co. Agrees To Pay $920 Million in Connection with Schemes to Defraud Precious Metals and U.S. Treasuries Markets" - https://www.justice.gov/opa/pr/jpmorgan-chase-co-agrees-pay-...
"NatWest Markets Pleads Guilty to Fraud in U.S. Treasury Markets" - https://www.justice.gov/opa/pr/natwest-markets-pleads-guilty...