Peregrine Bankruptcy Trustee, JPMorgan Ink $15M Settlement

Law360, Los Angeles (March 27, 2014, 9:45 PM EDT) -- The bankruptcy trustee for Peregrine Financial Group Inc. asked an Illinois federal court on Thursday to approve a $15 million settlement with JPMorgan Chase Bank NA, which would resolve claims brought by Peregrine customers who said JPMorgan allowed fraud by Peregrine and jailed CEO Russell Wasendorf Sr.

Chapter 7 Trustee Ira Bodenstein asked the court to approve a conditional compromise, under which JPMorgan would pay $1.25 million to end claims brought in a class action against JPMorgan, as well as release $14 million in funds being...
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Case Information

Case Title

Peregrine Financial Group, Inc.


Case Number

1:12-bk-27488

Court

Illinois Northern

Nature of Suit

Date Filed

July 10, 2012


Case Title

In re Peregrine Financial Group Customer Litigation


Case Number

1:12-cv-05546

Court

Illinois Northern

Nature of Suit

850(Securities/Commodities)

Judge

Honorable Sara L. Ellis

Date Filed

July 13, 2012

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