JPMorgan Chase & Co. was sued by a former employee seeking to represent participants in the bank's retirement plan who lost money on company stock the plan held after the bank reported a $2 billion trading loss, Bloomberg News reported yesterday. The complaint filed on Monday by Gregory Scrydloff accuses New York-based JPMorgan of making misstatements about its financial health that allowed the company's stock to trade at inflated prices between April 13, when the company reported earnings, and May 10, when Chief Executive Officer Jamie Dimon disclosed the trading loss. Last week, an Arizona trust filed a securities-fraud lawsuit seeking to represent all investors who lost money on the stock as a result of alleged misstatements by the bank about its losses. In another case filed last week, an individual investor asked for damages on behalf of the company from Dimon, the bank's board and other executives.
