A former private client advisor’s claims for breach of contract and fraudulent misrepresentation against JPMorgan Chase & Co. and the JPMC Severance Plan are preempted by the Employee Retirement Income Security Act because they require analysis of JPMorgan’s severance plan, the Southern District of New York ruled. The client advisor lost his lawsuit seeking an additional $338,461 in severance benefits following his 2018 termination, based on a notice letter offering $369,230 in severance benefits in exchange for signing a release agreement. The notice letter he received expressly provided that the terms of the severance plan, and not the notice letter ...
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