Opening salvo: JPMorgan Chase sued over OWS actions

Opening salvo: JPMorgan Chase sued over OWS actions
A day ahead of renewed protests, bank accused of violating rights of dissenters: Mayor Bloomberg, city council named in litigation
SEP 17, 2012
Four New York City Council members sued the city today over the handling of Occupy Wall Street protestors, claiming the police used excessive force and should be subject to an outside monitor. The city and the Police Department made false arrests and violated the free-speech rights of protestors and journalists last year, 15 people including the council members said today in a complaint in Manhattan federal court. JPMorgan Chase & Co. (JPM), Brookfield Office Properties and Mayor Michael Bloomberg are among the defendants. The Occupy movement in New York has held demonstrations and marches around the city since Nov. 15, when police ousted hundreds of protesters from Zuccotti Park near Wall Street, where they had camped since Sept. 17. Protestors spread an anti-greed message, calling attention to what they call abuses of power and wealth. “Through unlawful exercises of public power and misapplication of law, the NYPD has sought to prevent and has prevented plaintiffs and other citizens from exercising certain constitutional rights, including the right to public assembly and expressive speech,” according to the complaint. The City Council members are Jumaane Williams, Letitia James, Ydanis Rodriguez and Melissa Mark-Viverito. The council has 51 members. Bloomberg, the mayor, is the founder and majority owner of Bloomberg News parent Bloomberg LP. Kate Ahlers, a spokeswoman for the city Law Department, had no immediate comment on the complaint. Jennifer Zuccarelli, a spokeswoman for JPMorgan Chase, declined to comment in an e- mail. Occupy Wall Street demonstrators plan marches around the globe tomorrow, saying they hope the coordinated events will mark a spring resurgence of the movement after a quiet winter. --Bloomberg News--

Latest News

WallStreetBets takes on the SEC — and makes a surprisingly sharp case
WallStreetBets takes on the SEC — and makes a surprisingly sharp case

The Reddit trading community's formal comment letter against the proposal is drawing widespread attention across finance and tech circles.

Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale
Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale

RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.

Beyond wealth management: Why the future of advice is becoming more human
Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up
Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up

Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.

UBS loses $1.2 million arbitration claim linked to variable annuities and margin
UBS loses $1.2 million arbitration claim linked to variable annuities and margin

UBS has a history of costly litigation stemming from the sale of volatile investment products.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline