- A Dallas jury awarded a widow and family up to $8B in punitive damages over JPMorgan's (NYSE:JPM) mishandling the estate of a former American Airlines executive.
- Actual damages awarded were less than $5M, meaning the punitive damages are likely to be scaled back.
- At issue is Max Hopper, who passed in 2010 with assets of more than $19M, but no will. JPMorgan was hired to administer the divvying of up of assets among family members. Trouble ensued, claims the family.
- "The nation’s largest bank horribly mistreated me and this verdict provides protection to others from being mistreated by banks that think they’re too powerful to be held accountable," says Jo Hopper.
- Now read: JPMorgan: This Won't End Well
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JPMorgan ordered to pay billions in estate case
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