Dow Chemical-JP Morgan saga continues
Recall that Romeo Kreinberg, former executive vice president at Dow Chemical, was fired after the company learned that he was scheming to arrange a buyout of the company. He's now striking back. According to the New York Times, he has filed a lawsuit alleging that JP Morgan "deceived Dow by hiding its role in the unauthorized talks." JP Morgan denies the claim. Kreinberg paints the bank as pinning the blame on him to salvage its reputation with a top client. A pivotal moment: A dinner in Midland, Michigan when top executives of Dow allegedly made clear to JP Morgan CEO Jaime Dimon that they thought the bank was behind some leaks about the buyout talks and suggested they do something about Kreinberg. This could get juicier. Â
For more:
- here's the New York Times article
Related article:
- Buyout drama at Dow Chemical gets personal




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