Justice Department Opens JPMorgan Probe

Meanwhile, Jamie Dimon survives shareholder vote
By Kevin Spak,  Newser Staff
Posted May 15, 2012 11:59 AM CDT
Justice Department Opens JPMorgan Probe
The corporate flag for JPMorgan Chase flies at corporate headquarters, Monday, May 14, 2012 in New York.   (AP Photo/Mark Lennihan)

Maybe Jamie Dimon will go on trial after all? That's getting way ahead of things, but the Justice Department has opened an inquiry into the JPMorgan trading scandal, sources tell the Wall Street Journal. It's currently unclear what legal violations it's looking into, but the probe will be separate from the SEC's investigation, which is looking at the company's accounting and disclosures.

But there is good news for Dimon: Shareholders today rejected a motion to oust him from his post as chairman, though there was serious support for it; 40.1% of votes were cast in favor of splitting up the jobs of chairman and CEO, Reuters reports. The AP adds that he also won a shareholder endorsement of his 2011 $23 million pay package, but notes that most of the shareholder ballots were cast weeks ago. (Read more Jamie Dimon stories.)

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