Skip to content
Subscriber Only

Record JPMorgan Settlement Wouldn’t Deter Some Investors

JPMorgan Chase & Co.’s tentative agreement to pay a record $13 billion to end civil claims over its sales of mortgage bonds, a deal that won’t absolve the bank of potential criminal liability, hasn’t shaken some investors’ faith in Chairman and Chief Executive Officer Jamie Dimon.

Billionaire Home Depot Inc. founder Ken Langone said he sees the accord as a buying opportunity. The pact with the U.S. Justice Department would resolve claims that the bank, Bear Stearns Cos. and Washington Mutual Inc. misleadingly packaged and sold mortgage-backed securities. JPMorgan, which acquired both lenders at the government’s urging in 2008, fell 10 cents to $54.20 at 12:28 p.m. in New York.