JPMorgan Investor Suit Accord Approved by U.S. Judge in N.Y

JPMorgan Chase & Co. won a judge’s approval to pay $150 million to settle investor claims that it hid as much as $6.2 million in losses caused by a trade dubbed the London Whale.

U.S. District Judge George Daniels in New York on Tuesday accepted the accord, which ended a suit brought by a group of pension funds in 2012. They accused JPMorgan of turning its chief investment office in London into a “secret hedge fund” that caused the losses.

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