JPMorgan Pays $45M To Exit Derivatives Bid-Rigging MDL

Law360, New York (June 4, 2012, 10:28 PM EDT) -- A New York federal judge on Monday gave preliminary approval to a $45 million settlement between JPMorgan Chase & Co. and a class of municipalities, government agencies and others in multidistrict litigation accusing the brokerage of conspiring to fix prices and rig bids for municipal derivatives.

U.S. District Judge Victor Marrero signed off on the deal, proposed by class plaintiffs including the city of Baltimore, the Mississippi Department of Transportation and others, to let JPMorgan exit a consolidated appeal accusing about 20 financial institutions of manipulating...
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