JPMorgan Pays $150M To Settle Pension Funds' ERISA Claims

Law360, New York (March 16, 2012, 10:54 PM EDT) -- JPMorgan Chase Bank NA on Friday agreed to pay $150 million to settle a consolidated class action brought by three retirement funds accusing the bank of botching their investments in structured investment vehicle Sigma Finance Inc., which collapsed in 2008.

In a motion filed in New York federal court, the parties, including plaintiffs American Federation of Television & Radio Artists Retirement Fund, Manhattan & Bronx Surface Transit Operating Authority Pension Plan and the Imperial County Employees' Retirement System, sought preliminary approval for the settlement after previously...
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