JPMorgan (JPM) says President Donald Trump improperly named the CEO Jamie Dimon,as a defendant in his lawsuit over closure of his accounts in order to file the case in Florida state court, Bloomberg’s Mikella Schuettler reports. The bank says Florida’s unfair trade practices law didn’t apply to its CEO because he was “closely and comprehensively regulated by the federal banking agencies” and that Dimon was “fraudulently joined” in the suit. JPMorgan is seeking to move the case to federal court in Miami and eventually to New York, and will seek to dismiss Trump’s “threadbare” lawsuit, which alleges the bank “debanked” him and his companies following the January 6, 2021, assault on the U.S. Capitol.
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