Lehman Gets Nod On $1.4B JPMorgan Settlement

Law360, New York (February 8, 2016, 7:38 PM EST) -- A New York bankruptcy judge on Monday approved a $1.42 billion settlement to resolve most litigation between Lehman Brothers Holdings Inc. and JPMorgan over transactions that occurred in the runup to Lehman’s 2008 bankruptcy.

Lehman Brothers had accused JPMorgan of contributing to the investment bank’s epic downfall in September 2008. (Credit: AP) The deal, approved by U.S. Bankruptcy Judge Shelley Chapman, resolves two of the three major pieces of litigation Lehman had brought against JPMorgan and, when combined with a related release of a debtor deposit, will result in a $1.49 billion payment to Lehman creditors, LBHI attorney Andrew Rossman of...

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