Nupur Anand, Lananh Nguyen, Luc Cohen and Jonathan Stempel, Reuters, June 12, 2023

JPMorgan Chase agreed to pay about $290 million to settle a class action lawsuit by Jeffrey Epstein’s victims, resolving a large part of litigation over the bank’s relationship with the disgraced financier.

Monday’s settlement follows months of embarrassing disclosures that JPMorgan ignored internal warnings and overlooked red flags about Epstein because he had been a valuable client.

Davia Temin, chief executive of crisis management firm Temin and Co, said settling rather than fighting to the end sends “the right message across Wall Street.” […read more]