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JPMorgan Chase & Co. on Monday claimed it achieved a settlement for an undisclosed sum in the course-action lawsuit, Jane Doe 1 v. JPMorgan Chase.
The lawsuit was submitted in the Southern District of New York on Nov. 24 by an Epstein sufferer, Jane Doe 1, who was searching for damages from the financial institution for its earlier dealings with deceased convicted pedophile Jeffrey Epstein.
The delivery title of the major plaintiff in the lawsuit has not been introduced.
“The settlements that have been achieved are each daily life-switching and historic for the survivors,” stated Sigrid McCawley, a attorney for the plaintiffs in the lawsuit. “Money, which for much too very long flowed with impunity between Jeffrey Epstein’s international intercourse trafficking business and Wall Street’s leading banks, is decisively remaining applied for excellent. The settlements sign that economical institutions have an significant position to participate in in recognizing and shutting down sex trafficking.”
Spokespeople from the plaintiff and from JPMorgan Chase told MarketWatch the greenback sum of the settlement was not getting disclosed.
A spokesperson for JPMorgan Chase mentioned, “We all now understand that Epstein’s behavior was monstrous, and we believe that this settlement is in the finest desire of all parties, especially the survivors, who endured unimaginable abuse at the fingers of this guy.”
“Any association with him was a miscalculation and we regret it,” the financial institution reported. “We would by no means have continued to do business enterprise with him if we thought he was using our lender in any way to assistance commit heinous crimes.”
The settlement comes just days following McCawley, of regulation agency Bois Schiller Flexner, asked U.S. District Decide Jed S. Rakoff to order JPMorgan Chase to offer more details about a 2019 financial institution critique of the Epstein matter as well as the success of a bank critique of its romance with its former prosperity chief, Jes Staley.
Also Read through: Jamie Dimon may well be required to supply new testimony in Jeffrey Epstein accuser’s lawsuit
Two other lawsuits that the financial institution is combating are still pending.
All those consist of a legal action involving the U.S. Virgin Islands and JPMorgan Chase, as well as JPMorgan Chase’s lawsuit from Jes Staley, former head of the bank’s prosperity unit.
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stock was up .3% in premarket trades.
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