Legal
JPMorgan’s $290 Million Payout to Epstein Victims Wins Approval
- Group of attorneys general objected to clause in settlement
- Objection threatened to delay payout to almost 200 victims
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A $290 million settlement between JPMorgan Chase & Co. and victims of Jeffrey Epstein was approved by a federal judge, who rejected a last-minute challenge from a group of state attorneys general that could have delayed the payout to almost 200 victims.
US District Judge Jed Rakoff said the pact, which resolved claims that the bank ignored red flags to keep Epstein as a client, would send a signal to the financial industry and beyond.