JPMorgan must face lawsuit by Ray-Ban maker over $272 mln cybertheft
JPMorgan Chase & Co was ordered by a New York judge to face a lawsuit by the French maker of Ray-Ban sunglasses, which said cybercriminals withdrew $272 million from its New York account after the bank ignored "red flags" of suspicious activity. U.S. District Judge Lewis Liman on Wednesday ruled that a Thailand unit of EssilorLuxottica SA can try to prove that JPMorgan violated a New York law governing commercial contracts that requires refunds of unauthorized payment orders.