October 14, 2014 / 5:17 PM / 5 years ago

Premature release of JPMorgan earnings blamed on 'human error'

NEW YORK, Oct 14 (Reuters) - JPMorgan Chase & Co’s third-quarter results were released hours ahead of schedule on Tuesday morning because of a “human error” at an external vendor that manages its investor relations website, the vendor said in a statement.

The vendor, Shareholder.com, which is owned by Nasdaq OMX Group Inc, mistakenly published one of JPMorgan’s earnings documents more than three hours ahead of its scheduled release at 7 a.m. EDT (1100 GMT).

Although such documents are hosted on Shareholder.com, they can be accessed through JPMorgan’s investor relations page. The accidental release caused confusion among traders and analysts about whether the documents were legitimate until JPMorgan confirmed their authenticity with a news release at 6:45 a.m. EDT.

A Nasdaq spokesman said in a statement that at about 3:36 a.m. EDT, “Shareholder.com inadvertently made a supplemental earnings file from JP Morgan Chase’s third quarter earnings announcement publicly accessible.”

He added: “The root cause was a human error internally at Shareholder.com. The issue was contained only to JPMorgan Chase and did not impact any other Shareholder.com clients.”

Earlier in the day, JPMorgan spokesman Joe Evangelisti had attributed the problem to an “operational error” at Shareholder.com.

The biggest U.S. bank on Tuesday reported lower-than-expected quarterly profit as high costs more than offset strength in its capital markets and lending business.

Reporting by Lauren Tara LaCapra; editing by Matthew Lewis

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