JPMorgan Divulges $425M Settlement

Law360, New York (March 10, 2006, 12:00 AM EST) -- JPMorgan Chase has reached a $425 million settlement with the creditors of collapsed healthcare backer National Century Financial Enterprises for its role in the scandal once dubbed “The Enron of Healthcare.”

The bank revealed the deal on Thursday in a filing with the U.S. Securities and Exchange Commission, disclosing its arrangement with the holders of $1.6 billion of face value of notes and a trust established for the creditors of National Century.

News of the settlement surfaced nearly three months after the SEC sued four former...
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