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JPMorgan, ADR Holders Strike $9.5M Deal In Fee Suit

Law360 (June 13, 2018, 10:16 PM EDT) -- JPMorgan Chase & Co.’s banking unit agreed to shell out $9.5 million to end a proposed class action by a group of American depositary receipt holders who’d alleged the bank improperly charged extra foreign exchange transaction fees, according to a deal pitched in New York federal court Tuesday.

The ADR holders said the cash payment from JPMorgan represents nearly 30 percent of the best possible recovery the investors could have gotten at trial, and the deal was worked out at arms length over several months, according...
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Case Information

Case Title

Merryman et al v. JP Morgan Chase Bank, N.A.,


Case Number

1:15-cv-09188

Court

New York Southern

Nature of Suit

Contract: Other

Judge

Valerie E. Caproni

Date Filed

November 20, 2015

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