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JPMorgan to pay US$150m in 'London Whale' US lawsuit

The lawsuit against JPMorgan was spearheaded by pension funds in the US states of Arkansas, Ohio and Oregon and in Sweden.

New York

JPMORGAN Chase & Co has agreed to pay US$150 million to resolve a securities fraud lawsuit by investors suing the bank over its "London Whale" trading scandal, which caused a US$6.2 billion loss.

The settlement was disclosed in papers filed on Friday in a federal court