JP Morgan Settles Fla. Securities Claims For $25M

Law360, New York (December 22, 2010, 8:03 PM EST) -- Florida Attorney General Bill McCollum announced Wednesday a $25 million settlement with J.P. Morgan Securities Inc. over allegations that the investment bank sold unregistered securities to Florida’s Local Government Investment Pool in violation of state law.

“This settlement is part of the state’s continued efforts to secure the maximum valuation of investment securities held by the [Florida State Board of Administration],” McCollum said in a statement. “My office will continue providing assistance to state financial regulators in these matters to ensure full compliance with the law.”...
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