JPMorgan Chase has agreed to pay $ 150 m to settle a lawsuit stemming from the " London Whale " scandal . The bank was accused of making false and misleading statements in 2012 to a number of investors , telling them not to worry about losses which topped $ 6.2bn . Shareholders accused JPMorgan of knowingly hiding increased risks at the Chief Investment Office, including on an April 13, 2012, conference call when JPMorgan Chase & Co Chief Executive Officer Jamie Dimon called reports about the synthetic portfolio a "tempest in a teapot. The Ohio Public School Retirement Systems said it lost about $ 2.5 m as a result of the incident . Chase , which did not admit wrongdoing as it settled , declined to comment ; it had reserved for the settlement earlier this year . So far , JPMorgan has paid over $ 1bn to settle US and UK probes into London Whale scandal .
JPMorgan Chase has agreed to pay $ 150 m to settle a lawsuit stemming from the " London Whale " scandal . The bank was accused of making false and misleading statements in 2012 to a number of investors , telling them not to worry about losses which topped $ 6.2bn . The Ohio Public School Retirement Systems said it lost about $ 2.5 m as a result of the incident . Chase , which did not admit wrongdoing as it settled , declined to comment ; it had reserved for the settlement earlier this year . So far , JPMorgan has paid over $ 1bn to settle US and UK probes into London Whale scandal .