ESPINOZA v. DIMON

Docket No. 14-1754.

790 F.3d 125 (2015)

Ernesto ESPINOZA, Derivatively on Behalf of JPMorgan Chase & Co., Plaintiff-Appellant v. James DIMON, Douglas L. Braunstein, Michael J. Cavanagh, Ellen V. Futter, James S. Crown, David M. Cote, Laban P. Jackson, Jr., Crandall C. Bowles, James A. Bell, Lee R. Raymond, Stephen B. Burke, William C. Weldon, Ina R. Drew, David C. Novak, Defendants-Appellees, JPMorgan Chase & Co., Nominal Defendant-Appellee, William H. Gray, III, Defendant.

United States Court of Appeals, Second Circuit.

Decided: June 16, 2015.


Attorney(s) appearing for the Case

George C. Aguilar ( Jay N. Razzouk , on the brief), Robbins Arroyo LLP, San Diego, CA; Thomas G. Amon , Law Offices of Thomas G. Amon, New York, N.Y., for Plaintiff-Appellant.

Richard C. Pepperman, II , Sullivan & Cromwell LLP, New York, New York ( Daryl A. Libow , Christopher Michael Viapiano , Sullivan & Cromwell LLP, Washington, D.C., on the brief), for Defendants-Appellees James Dimon, Douglas L. Braunstein, Michael J. Cavanagh, Ina R. Drew, and Nominal Defendant-Appellee JPMorgan Chase & Co.

Jonathan C. Dickey , Gibson, Dunn & Crutcher LLP, New York, N.Y., for Defendants-Appellees Ellen V. Futter, James S. Crown, David M. Cote, Laban P. Jackson, Jr., Crandall C. Bowles, James A. Bell, Lee R. Raymond, Stephen B. Burke, William C. Weldon, and David C. Novak.

Before: KATZMANN, Chief Judge, POOLER and CARNEY, Circuit Judges.


This derivative action is one of many to arise out of the "London Whale" trading debacle, which cost JPMorgan Chase billions. Plaintiff-appellant Ernesto Espinoza, a JPMorgan shareholder, believes that JPMorgan has not done enough to go after those whom he deems responsible. Through this lawsuit, he seeks to compel JPMorgan...

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