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JPMorgan Files Amended 10-Q for First Quarter

August 14, 2012
[ by Howard Haykin ] JPMorgan Chase & Co. filed a formal restatement of its 1st Quarter Form 10-Q on Thursday to more accurately reflect the impact of the values of the long derivatives positions held by JPMorgan's London-based CIO trading desk. The revised filing now report that JPMorgan's Q1 earnings amounted to $4.92 billion, of $459 million less than what was originally reported.  The difference reflects a pre-tax loss of nearly $6 billion for 2012 that JPMorgan has disclosed from so-called "London Whale" trades in the company's Chief Investment Office. [Reuters, 8/9/12]