JPMorgan Reaches Deal Over $1B Hedge Fund Losses

Law360, San Francisco (August 16, 2013, 6:39 PM ET) -- JPMorgan Chase & Co. has reached an undisclosed deal with the liquidators of two overseas hedge funds assembled by Bear Stearns, ending claims in New York federal court that the mortgage-rich funds cost investors more than $1 billion, according to court filings Friday.

In a brief stipulation filed with the court, the liquidators and the Bear Stearns Cos., JPMorgan and several Bear Stearns Asset Management executives said they had agreed to settle the case, and that all claims and counterclaims would be dismissed with prejudice “and...
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