A U.S. appeals court ruling yesterday revived a lawsuit against JPMorgan Chase & Co. filed by a former vice president claiming the bank ignored red flags about a client's potential fraud, even after the massive Ponzi scheme operated by Bernard Madoff, another JPMorgan client, was exposed, Reuters reported yesterday. The U.S. Court of Appeals for the Second Circuit reversed a lower court's decision to throw out Jennifer Sharkey's whistleblower suit and ordered the judge to consider whether the case should be allowed to continue under a more lenient standard of whistleblower protection. The ruling from the three-judge panel was unanimous. JPMorgan has rejected Sharkey's allegations.
