Wednesday, 29 July 2015
Last updated 17 hours ago
Mar 24 2014 | 1:03pm ET
A federal judge has signed off on another piece of JPMorgan Chase’s $2.7 billion Bernard Madoff settlement.
U.S. District Judge Colleen McMahon approved a $218 million deal to end class-action litigation against the bank, which served Madoff for decades. In January, another judge signed off on JPMorgan’s $1.7 billion settlement with federal prosecutors, in which the bank acknowledged wrongdoing.
McMahon said the class-action settlement “easily meets the standards” for approval. She also awarded the law firms that brought the cases $18 million in fees.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…