The legal team of JPMorgan Chase & Co. (NYSE:JPM) argued that President Donald Trump‘s lawsuit wrongly includes CEO Jamie Dimon and requested a shift from the Florida state court to federal court.

The lawyers stated in a notice that Florida’s Deceptive and Unfair Trade Practices Act, on which the lawsuit is based, does not apply to federally regulated bank executives acting in their official capacity.

They further stated that since JPMorgan is a legal citizen of Ohio and none of the plaintiffs are Ohio citizens, the case is eligible for federal court. They argued that Dimon was "fraudulently" named in the lawsuit to prevent it from being moved out of state court, contending that Florida's DUTPA exempts federally regulated bank executives acting in their official capacity, implying the case belongs in federal court.

Trump’s allegations that JPMorgan dropped him as a client for political reasons were also refuted by the bank’s legal team. They argued that the plaintiffs’ allegations lack sufficient facts to establish their claim and fail to explain the supposed blacklist.

The White House ...