JPMorgan May Lose Business, Face Suit on Wintek Report
This article is for subscribers only.
JPMorgan Chase & Co. may have lost a client’s business and face a lawsuit after Taiwan’s Wintek Corp. objected to an analyst’s report that said investors should sell the company’s shares as it was poised to lose market share.
Wintek will “end global depositary receipt cooperation with JPMorgan” because of an Oct. 19 research report by Taipei- based analyst Narci Chang, the company said in a filing to the Taiwan Stock Exchange yesterday. The company, which makes components for Apple Inc.’s iPad and iPhone, may take legal action against Chang, the statement said.