JP Morgan has been ordered to pay billionaire Leonard Blavatnik $ $ 425,000 in compensation for the deterioration of relations mortgage-backed securities.
Vanik, "Forbes" ranked 44th on the list of billionaires, has tried to recover more than 100 million U.S. dollars, as JP Morgan Chase "alleged mismanagement," he funds in the 2007 housing crisis in the early stages.
New York State Supreme Court Justice Melvin Schweitzer made ??public in the decision Monday after three weeks of trial, ruled that JPMorgan breached its Blavatnik's CMMF fund contract, because it exceeds the 20% caps mortgage-backed securities.
Vanik also believe that JP Morgan in its management of the Fund has been negligent. However, Schweitzer said, the bank served as the "reasonable information is available to its time."
The ruling was on August 21.
 



Other News:
JPMorgan ordered to pay $42.5 million to Blavatnik
Budget cuts to reduce federal jobless benefits
Money market fund assets rise to $2.638 trillion
Dreamers work to create huge new park in Delhi
Vermont Yankee nuke plant to close by end of 2014
Russia seeks to seize Berezovsky's Serbian assets
ING sells Korean insurance arm for $1.66 billion
Israeli troops kill two Palestinians in predawn raid