JPMorgan agrees to settle Jeffrey Epstein victim class action lawsuit - Fox News
JPMorgan Chase has reached an agreement to settle a lawsuit from victims of Jeffrey Epstein, the bank announced Monday.
The financial institution has yet to release details regarding the “agreement in principle,” but it will shell out $290 million in payments to the victims, according a Reuters report. JPMorgan had been attempting to fend off the class action lawsuit for months.
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While the statement did not reveal a settlement amount publicly, Reuters cited a “person familiar” with the agreement who said the bank would pay roughly $290 million. The payment will go out to roughly 100 women who were victims of Epstein’s.
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The agreement comes weeks after JPMorgan CEO Jamie Dimon sat for a deposition with lawyers for the victims. The lawsuit alleged the bank had repeatedly ignored warnings that Epstein has involved in the sex trafficking of young women and girls.
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Dimon testified that he played no part in handling Epstein’s accounts with the bank.
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Lawyers for Epstein’s victims filed a request to interview Dimon a second time last week. They claimed that the bank had dragged its feet in producing further documents that would have changed their initial questioning of Dimon.
In a letter to Judge Jed Rakoff, an attorney for the Epstein victim wrote that JPMorgan’s “untimely” and “inexplicably slow” delivery of documents was a strategic move.
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