JPMorgan Chase & Co. began a trial over claims that it cheated Texas mineral-rights owners of $681 million, after failing to complete a deal to end the case as settlement talks continue (Meyer v. JP Morgan Chase Bank, Tex. Dist. Ct., 2018-CI-10977, trial started 11/12/14).
Beneficiaries of the South Texas Syndicate Trust accuse the New York-based bank, which was supposedly working on their behalf, of instead hatching favorable deals with commercial-banking clients Petrohawk Energy Corp. and Hunt Oil Co. for cut-rate prices on the trust’s rights to drill in the Eagle Ford shale formation, the highest-yielding oil field ...
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