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JPMorgan Suit Dismissal Upheld by New York Appeals Court

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JPMorgan Chase & Co., the biggest U.S. bank by assets, won a New York appeals court ruling upholding the dismissal of a lawsuit by the defunct commodities fund Amaranth Advisors LLC, Bloomberg News reported yesterday. Amaranth collapsed in 2006 after losing $6.6 billion on natural gas trades. The fund sued New York-based JPMorgan in 2007 in state court in Manhattan, alleging that bank executives helped cause its demise by sabotaging a bailout by Citadel Investment Group LLC.