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JPMorgan Investor Suit Accord Is Approved by U.S. Judge

  • Bank agreed to pay $150 million to end London Whale suit
  • Pension funds said high-risk trades hidden from investors

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 London-based Chief Investment Office in London into a “secret hedge fund” that caused the losses.