Opening salvo: JPMorgan Chase sued over OWS actions

Opening salvo: JPMorgan Chase sued over OWS actions
A day ahead of renewed protests, bank accused of violating rights of dissenters: Mayor Bloomberg, city council named in litigation
SEP 17, 2012
By  John Goff
Four New York City Council members sued the city today over the handling of Occupy Wall Street protestors, claiming the police used excessive force and should be subject to an outside monitor. The city and the Police Department made false arrests and violated the free-speech rights of protestors and journalists last year, 15 people including the council members said today in a complaint in Manhattan federal court. JPMorgan Chase & Co. (JPM), Brookfield Office Properties and Mayor Michael Bloomberg are among the defendants. The Occupy movement in New York has held demonstrations and marches around the city since Nov. 15, when police ousted hundreds of protesters from Zuccotti Park near Wall Street, where they had camped since Sept. 17. Protestors spread an anti-greed message, calling attention to what they call abuses of power and wealth. “Through unlawful exercises of public power and misapplication of law, the NYPD has sought to prevent and has prevented plaintiffs and other citizens from exercising certain constitutional rights, including the right to public assembly and expressive speech,” according to the complaint. The City Council members are Jumaane Williams, Letitia James, Ydanis Rodriguez and Melissa Mark-Viverito. The council has 51 members. Bloomberg, the mayor, is the founder and majority owner of Bloomberg News parent Bloomberg LP. Kate Ahlers, a spokeswoman for the city Law Department, had no immediate comment on the complaint. Jennifer Zuccarelli, a spokeswoman for JPMorgan Chase, declined to comment in an e- mail. Occupy Wall Street demonstrators plan marches around the globe tomorrow, saying they hope the coordinated events will mark a spring resurgence of the movement after a quiet winter. --Bloomberg News--

Latest News

LPL building out alts, banking services to chase wirehouse advisors, new CEO says
LPL building out alts, banking services to chase wirehouse advisors, new CEO says

New chief executive Rich Steinmeier replaced Dan Arnold on October 1.

Franklin Templeton CEO vows to "do what's right" amid record outflows
Franklin Templeton CEO vows to "do what's right" amid record outflows

The global firm is navigating a crisis of confidence as an SEC and DOJ probe into its Western Asset Management business sparked a historic $37B exodus.

For asset managers, easy experience is key to winning advisors' businesses
For asset managers, easy experience is key to winning advisors' businesses

Beyond returns, asset managers have to elevate their relationship with digital applications and a multichannel strategy, says JD Power.

Why retaining HNW clients ultimately comes down to one basic thing
Why retaining HNW clients ultimately comes down to one basic thing

New survey finds varied levels of loyalty to advisors by generation.

Stocks drop as investors digest Microsoft, Meta earnings
Stocks drop as investors digest Microsoft, Meta earnings

Busy day for results, key data give markets concerns.

SPONSORED Out with the old and in with the new: a 50% private markets portfolio

A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.

SPONSORED Destiny Wealth Partners: RIA Team of the Year shares keys to success

Discover the award-winning strategies behind Destiny Wealth Partners' client-centric approach.