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

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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...

sentifi.com

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