JPMorgan Chase's $8 billion jury loss to widow faces massive reduction

The plaintiffs alleged that bank representatives failed to meet financial deadlines for assets under their control and stock options were allowed to expire

JPMorgan Chase & Co. will probably face a judgment of no more than $90 million in a lawsuit claiming mismanagement of an estate that initially brought a jury verdict of $8 billion in punitive damages.

A Dallas jury in September awarded excessive punitives and duplicate actual damages, the widow and children of Max Hopper, a former American Airlinesexecutive, said in court filings.

Lawyers for Stephen Hopper and Laura Wassmer asked a Dallas probate court to limit punitive damages to them and their father’s estate to about $70 million, down from a total of $6 billion awarded by the jury. Hopper and Wassmer