JP Morgan is being sued by a pension fund for television and radio actors in the US that alleges the bank neglected its fiduciary duties by putting money into a high-risk structured investment vehicle, which cost investors over $6bn (€4.5bn) when it collapsed last year.

In a court filing to the Southern District of New York, the American Federation of Television and Radio Artists pension scheme alleged JP Morgan Chase had ignored its legal fiduciary duties under the Employee Retirement Income Securities Act whilst carrying out securities lending services for its portfolio.