JPMorgan Profits Fall 7.3% Following Gov't Settlements

Law360, Los Angeles (January 14, 2014, 4:24 PM EST) -- JPMorgan Chase & Co.'s earnings dropped 7.3 percent in 2013's fourth quarter, the bank said in a Tuesday securities report filed a week after it agreed to shell out more than $2.6 billion in settlements for allegedly not reporting Bernard Madoff's Ponzi scheme.

JPMorgan reported a net income of $5.28 billion from October through December, with its stock valued at $1.30 per share compared with $1.39 a year earlier, according to an 8-K form the company filed with the U.S. Securities and Exchange Commission.

Total profits...
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