JPMorgan Chase has agreed to pay about $2.5m m to settle a lawsuit stemming from the "London Whale" scandal. The bank was accused of issuing false and misleading statements in earlier this year to a group of investors, urging them not to worry about losses which topped $ 6.2bn . JPMorgan said it lost $150 as a result of the incident. The settlement covers anyone who bought JPMorgan stock from April 13 to May 21, 2012, a time when JPMorgan's share price fell by roughly one-quarter and wiped out more than $40 billion of market value. JPMorgan , which did not admit wrongdoing as it settled, declined to comment; it had reserved for the settlement 2012 . So far, JPMorgan has paid over $1bn to settle US and UK probes into London Whale losses.
JPMorgan Chase has agreed to pay about $2.5m m to settle a lawsuit stemming from the "London Whale" scandal. The bank was accused of issuing false and misleading statements in earlier this year to a group of investors, urging them not to worry about losses which topped $ 6.2bn . JPMorgan said it lost $150 as a result of the incident. JPMorgan , which did not admit wrongdoing as it settled, declined to comment; it had reserved for the settlement 2012 . So far, JPMorgan has paid over $1bn to settle US and UK probes into London Whale losses.