A federal judge in Massachusetts ruled against allowing a Boston couple to present their securities claims to a jury, against JPMorgan Chase Bank and Chickasaw Capital Management. The reason behind the verdict is an existence of jury provision waivers in multiple agreements. Peter and Yoon Doelger, the plaintiffs, had filed a nine-count complaint against the defendants, notably without a jury demand. They alleged that they had invested tens of millions of dollars with the defendants, consequently the defendants invested their money into volatile master limited partnerships.
The Doelgers accused their JPMorgan investment advisor of lacking the requisite experience and recklessly investing their money into risky portfolios ultimately leading to a loss of more than $20 million, as per the opinion filed in U.S. District Court for the District of Massachusetts.
The litigation will now move forward as a bench trial, with only the judge presiding over the proceedings. Expressing his views on this, the plaintiff’s lead attorney, James R. Serritella, commented, “Although we are disappointed with the decision, we look forward to moving swiftly ahead with a bench trial before Judge Kelley and getting the Doelgers the justice they deserve.”
More information on this legal development can be found on Law.com.