High Court Frees JPMorgan From Madoff Trustee's Petition

Law360, New York (June 11, 2014, 1:59 PM EDT) -- The U.S. Supreme Court has agreed to remove JPMorgan Chase & Co. from a list of respondents in the trustee for notorious Ponzi scheme mastermind Bernie Madoff's petition to sue various banks for their alleged roles in the $64 billion scheme, according to documents filed with the court earlier this week.

The high court on Monday granted a joint request to remove JPMorgan from the list, citing the settlement of trustee Irving Picard's claims against the investment bank for $543 million, which a New York bankruptcy...
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