Dallas, Texas 08/20/2013 (Financialstrend) – It had recently been reported by Wall Street Journal that JPMorgan Chase & Co (NYSE:JPM) is presently subject to investigation by the Department of Justice over concerns related to the energy trades executed by the company. This recent investigation is related to the claims that the company had engaged in manipulation of the energy markets and is being handled by the US Attorney, Preet Bharara. It had been reported that the Department of Justice had initiated this investigation as the company had recently agreed to pay around $410 million in order to settle down the claims and enforcement action with the Federal Energy Regulatory Commission.
The allegation against JPMorgan Chase & Co (NYSE:JPM) had been made to further include additional issues related to this manipulation in the energy markets. It had not yet been reported whether this new claim against the company is civil or criminal in nature. The CEO, Jamie Dimon had assured that he would take all possible actions to resolve all the regulatory issues related to the company’s operations.
Shares of JPMorgan Chase & Co (NYSE:JPM) had moved down to present significant loss of 2.74% on Monday to close the session at $51.83 per share. There had been around 22.79 million shares of this company that had traded on the day, while the stock’s average level of trading remains at 17.03 million shares per day. Throughout the day, the stock had been moving to present intraday price fluctuations in the range of $51.80 to $52.95 per share. The stock’s presently recorded 52 week low is at $36.67 and 52 week high is at $56.93 per share. The company currently has 3.77 billion shares being traded out in the secondary markets with the institutional owners contributing around 72% of the holdings.