LONDON - JPMorgan Emerging Europe, Middle East & Africa Securities PLC (LSE:JEMA) has announced an update regarding ongoing legal proceedings involving multiple J.P. Morgan entities and Russia’s VTB Bank. The legal dispute centers around two lawsuits filed by VTB Bank in Russia, which claim a total of $155.8 million from eight J.P. Morgan legal entities and JEMA.
The English court has granted an interim injunction to J.P. Morgan Securities plc and JPMorgan Chase (NYSE:JPM) Bank, N.A., London Branch, preventing VTB Bank from advancing the lawsuits in Russia. This development comes as the two J.P. Morgan entities have initiated proceedings in the English court to restrain VTB’s legal actions. The injunction will remain in place pending a further hearing, the details of which will be disclosed as the situation unfolds.
The claims by VTB Bank against the J.P. Morgan entities have been a subject of previous announcements by JEMA, which are publicly available on the London Stock Exchange (LON:LSEG) website. The Board of JEMA has committed to providing further updates on the matter in due course.
JEMA, as part of the larger J.P. Morgan network, operates within the financial services industry, offering a range of investment opportunities across emerging markets in Europe, the Middle East, and Africa. The company’s reports, financial statements, and additional information can be found on its website.
This legal development could be of interest to investors and market watchers, as it involves significant claims and the interaction between Russian and English legal jurisdictions. The outcome of the legal proceedings may have implications for the involved J.P. Morgan entities and their operations.
The information regarding this legal update is based on a press release statement provided by RNS, the news service of the London Stock Exchange. The Financial Conduct Authority approves RNS to act as a Primary Information Provider in the United Kingdom (TADAWUL:4280).
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